Tapping global trade

Exports will need policy support

Union Finance Minister Nirmala Sitharaman rightly noted on Wednesday that Indian exporters needed to be far more receptive to what was happening globally. This is important because the surge witnessed by Indian exporters in 2021-22 is tapering. Exporters benefited a great deal from the surge in global demand as the world economy was recovering from the pandemic-induced disruption. However, even as global supply chains are now normalising, the world economy is slowing, partly because of monetary tightening by large central banks to contain inflation. Although the global economy is now expected to do somewhat better than previously estimated, it is