Bad news for ruling Congress Party as national general elections are scheduled for next year.
WSJ: “India’s merchandise exports are set to fall way short of initial estimates because of a demand slowdown in key markets, shows a government projection that is likely to deepen concerns on the country’s financial health and hurt its currency.
India’s exports could be as low as $291 billion in the fiscal year through March, compared with the initial target of $360 billion, according to a trade ministry document. At best, that if market conditions improve dramatically from now, exports could total $300 billion to $320 billion.
via India to Miss Export Target – WSJ.com.
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