Containerised trade in India has slowed to 1% in the second quarter of 2019, compared to 9% in the same period last year, and is below the global average growth according to Maersk’s India Trade Report.
The report attributed this slowdown to a “cocktail of international factors” such as slowing trade growth, and growing trade tensions – coupled with domestic factors like rural consumer distress, tightening liquidity and a slow-down in key manufacturing sectors.
Steve Felder, managing director for Maersk South Asia, said: “The overall deceleration of trade growth reflects a broad-based slowdown across key economic sectors.
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