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Pharma, Vehicles, metals, seafood playing a key role in India’s Exports.

The opening of Indian drugs to China’s pharmaceutical market, and its decision to cut tariffs on Indian cancer drugs has propelled India’s Pharma exports on a global scale. The cost of Indian cancer drugs are considerably lower than the ones from United States or European Union are popular in China. The Pharma sector also witnessed high export to North American nations in the third quarter of 2018.

The rise of exports of Indian two-wheelers, passenger and agricultural vehicles have resulted in a 36 per cent year-on-year (y-o-y) export growth in Q3 2018. Strong demand from regions of Latin America, Africa and surrounding countries like Nepal, Bangladesh and Sri Lanka have pushed the Indian-made vehicles to international markets, according to the Maersk Q3 India Trade Report.

Metal imports have seen 33 per cent y-o-y growth, on the back of metal scrap driving this growth from the North and West regions of India. In tandem, import of recyclables to India from the United States, Belgium, the United Kingdom and the Netherlands have witnessed significant growth since China’s crackdown on the import of solid waste—including recyclables—owing to environmental concerns, the report said.

Though the export of meat was stagnant during this period, the export of onions witnessed a 15 per cent growth and exports of shrimps grew by 20 per cent, thereby driving overall reefer exports by 27 per cent y-o-y. The demand for Indian organic food to the United States, the European Union, Canada, Israel and Vietnam played a part in India’s reefer export development.

Containerized imports of paper, metal and white goods have driven the import of dry commodities by 18 per cent y-o-y. The import of paper continues from the United States, Canada, the United Kingdom and South Korea. There is also an increased demand from the FMCG and packaged food segments. The E-commerce industry is growing rapidly in the country with the arrival of US giants into the domestic market.

The surge in paper imports, have raised some concerns for local paper manufacturing players. A three years anti-dumping duty, is likely to be levied on certain kinds of uncoated paper from Indonesia, Thailand and Singapore.

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