Question
Which of the following statements is correct based on
India's trade performance during the April-June quarter?Solution
Statement 1 is correct. According to the provided data, India's top 10 exports grew by 16.5% during the April-June quarter, significantly outpacing the overall merchandise exports growth of 5.8%. Statement 2 is incorrect. Although imports from Russia grew by nearly 20% to $18.36 billion, Russia is the second-largest import partner, not the largest. Statement 3 is incorrect. Exports to China saw a contraction of 2.8%, while the other top 9 destinations experienced positive growth. Statement 4 is incorrect. Import growth from India's top 10 import partners increased by 12%, excluding Singapore, Saudi Arabia, and Switzerland. Statement 5 is incorrect. India's export growth varied across the months: 2% in April, 13% in May, and 2.5% in June, indicating challenges such as muted demand and logistics issues.
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