Doller growing at best in four year

India’s exports hold a promising outlook with the US economy growing at its best in four years, coupled with the rupee depreciation leading to enhanced net revenue realisations, according to a report by Assocham.

The US emerged as the top export destination for India, with $47.9 billion worth of shipments in the last fiscal ended March, followed by the UAE and Hong Kong, the commerce ministry data showed.

The US economic growth accelerated by 4.2 per cent in the second quarter of this year, its fastest pace in about four years despite the ongoing tariff war with China.

“The US accounted for about a good chunk of 16 per cent of India’s total merchandise exports of $303 billion in the fiscal 2017-18 with the annual growth of 13.42 per cent,” the report said.

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