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
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.