A decline in external demand from countries, such as China, Bangladesh, and Italy, is driving down India’s merchandise exports that could have led to exports contraction in September for the first time in 19 months. Disaggregated data available till August showed, among top 50 export destinations of India, shipments contracted to 19 and 17 economies in July and August, respectively. In contrast, exports had declined only to six among the top 50 destinations in June.
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