Economic Survey 2023 warns over supply chain disruptions and a slowdown in Indian exports

According to the Economic Survey 2023, exports may slow and weaken as a result of a possible worldwide economic recession

Additionally, it issued a warning that the reawakening of Covid-19 in China would cause supply chain disruptions.

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Foreign direct investment (FDI) here in the manufacturing sector declined during the first half of FY23, reflecting global uncertainty.

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India’s current account deficit increased to 4.4% of GDP in the quarter ending in September from 2.2% of GDP there in quarter ending in April-June as a result of a larger trade imbalance.

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CAD requires to be carefully monitored because as growth momentum of current year drops off into the next

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The trade deficit has widened in 2022–2023 as a result of import growth outpacing export growth at this point.

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