Hindi English Translation || Editorial || Turning tide: On the export rebound

Turning tide: On the export rebound

October’s export rebound (उछाल, फिर से बढ़ना) is heartening but fresh headwinds loom (To appear as a large or threatening shape, especially in a worrying way) large

From a reasonably healthy show at the onset of this financial year, India’s goods exports had stumbled (ठोकर खाना, गलती करना) sharply in the second quarter, shrinking an average 5.8% over the first two months and rising a mere 0.5% in September. With half the year gone by, exports were up just 1%. In this backdrop, the 17.25% surge in merchandise shipments to overseas markets through October is a positive surprise, with the year’s second-highest tally of $39.2 billion. Trade mandarins (A powerful official or bureaucrat; also refers to a type of Chinese language) have attributed the uptick to stronger demand for the Christmas season in developed markets. If this festive demand holds, at least the next couple of months should see healthy numbers. With services exports rising 14.6% by September, official hopes of cumulative (संचयी, योगात्मक) exports through 2024-25 crossing a record $800 billion may yet be attained. Non-petroleum exports led the way in October with a 25.6% rise, and such shipments have now hit the highest ever tally for the first seven months of a year, at $211.3 billion.

The petroleum story, however, is starkly (स्पष्ट रूप से, कठोरता से) different and a tad (थोड़ी मात्रा) puzzling. India’s oil imports rose 13.2% in October to $18.3 billion (almost 46.4% over September), while exports tanked for the fifth straight month, by over 22% to $4.6 billion, the lowest in almost three years. The oil trade deficit has hit a record $13.7 billion. While one can attribute the export slide to significantly lower global oil prices vis-à-vis last year, the same should have held true at least partly for the import bill as well, even if higher domestic demand is factored in. The oil influx (आगमन, प्रवाह) spike has also lifted the overall import bill to a fresh high of $66.3 billion, breaking this August’s tally of $64.3 billion, which was fuelled by gold imports. Over the past three months, the trade deficit has widened to its second- and third-highest level. While gold imports are likely to stay high till the wedding season ends, oil trends and the widening import bill warrant closer monitoring even if the foreign exchange reserves situation is comfortable, and adequate to cover about a year’s imports. The World Trade Organization has pegged (तय करना, सीमित करना) global trade growth at 3% in 2025, relative to a 2.7% estimate for this year. Apart from the slowdown in China and festering (To become worse or more intense, especially through neglect) conflicts around the world, the biggest fly in the ointment for all such hopes is likely to be the incoming United States administration, with Donald Trump expected to prioritise the elevation of import tariffs and sops for domestic production. India must avoid any policy gestures such as the updated laptop import management system — it is in the works, with possible curbs (रोकना, नियंत्रित करना) — that could draw the U.S. government’s focus away from Mr. Trump’s primary trade target — China.

Courtesy: The Hindu

Important Word List With Meaning

1.Rebound (Verb)

Hindi Meaning - उछाल, फिर से बढ़ना
English Meaning - To recover in value, strength, or condition after a decline.

2.Cumulative (Adjective)

Hindi Meaning - संचयी, योगात्मक
English Meaning - Increasing in quantity or effect by successive additions.

3.Starkly (Adverb)

Hindi Meaning - स्पष्ट रूप से, कठोरता से
English Meaning - In a way that is severe, distinct, or clear.

4.Tad (Noun)

Hindi Meaning - थोड़ी मात्रा
English Meaning - A small amount or degree.

5.Influx (Noun)

Hindi Meaning - आगमन, प्रवाह
English Meaning - The arrival or entry of large numbers of people or things.

6.Peg (Verb)

Hindi Meaning - तय करना, सीमित करना
English Meaning - To fix, secure, or determine something at a particular level or position.

7.Curb (Verb)

Hindi Meaning - रोकना, नियंत्रित करना
English Meaning - To restrain or control something undesirable.

8.Stumble (Verb)

Hindi Meaning - ठोकर खाना, गलती करना
English Meaning - To trip or lose balance; to make a mistake.

9.Defecit (Noun)

Hindi Meaning - घाटा
English Meaning - The amount by which something, especially a sum of money, is too small or falls short.

10.Loom (Verb)

English Meaning - To appear as a large or threatening shape, especially in a worrying way.

11.Mandarin (Noun)

English Meaning - A powerful official or bureaucrat; also refers to a type of Chinese language.

12.Fester (Verb)

English Meaning - To become worse or more intense, especially through neglect.