India exports declined at a slower rate in October according Bloomberg.
The positive Indian trade news is an indication that the global recession is waning as Indian exports only dropped 11.4 percent as compared to the 13.8 percent in September.
Nonetheless, according to Finance Secretary Ashok Chawla, the Indian economy will struggle significantly to hit its needed 9 percent growth rate without a recovery in India’s exports which are driven largely by the demand of the industrialised nations.
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