India's trade deficit expected to decline further: Economic Survey

The Economic Survey highlighted that the boost in domestic manufacturing through PLI schemes and increased exports from free trade agreements are expected to help bridge India's trade deficit, despite potential impacts from fluctuating commodity prices. The survey emphasised the importance of maintaining competitiveness and expanding export markets, especially in sectors like agriculture. Experts, including Rumki Majumdar from Deloitte India, noted the resilience of India's exports amid global uncertainties and emphasized the need for strategic export growth to achieve ambitious targets by 2030-31.