India's Global Trade Grows By 16 Per Cent To $767 Billion


New Delhi: As per Commerce Department data, the Global trade of India has increased by 16.32 per cent to $767.9 billion in the 2017-18 fiscal. In 2016-17, the trade stood at $660.2 billion. "While India's global trade grew by 16.32 per cent between 2016-17 and 2017-18, India's total trade with LAC (Latin American countries) grew by 19.63 per cent," the department said.

It said that bilateral trade with LAC including Bolivia, Peru, Chile and Brazil has recorded healthy growth in 2017-18 as per the provisional numbers. "Bolivia has emerged as a major trade partner of India in LAC region with bilateral trade registering a growth of 205 per cent from $253 million in 2016-17 to $772.44 million in 2017-18," it said.

Similarly, two-way commerce with Brazil has increased to $8.56 billion in the last fiscal from $6.51 billion in 2016-17. Bilateral trade with Chile grew to $2.85 billion in 2017-18 from $1.90 billion in the previous fiscal. "India's trade with LAC increased from $24.52 billion in 2016-17 to $29.33 billion in 2017-18," it added.

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