India maintains strong trading position with UK: Maersk Line
The Dollar Business Bureau
India has sustained its strong position in trading with the UK, by witnessing a 6% growth year-on-year for the first half of this year, in terms of exim container trade volumes, Maersk Line said on Thursday.
“As UK's third-largest trading partner, India's exim (export-import) container witnessed 6% growth in first half of 2016, which is three times the growth we saw in H1 2015,” the container shipping company said in a statement.
The given growth took place despite a 2% fall in the exim container trade volumes of the UK with rest of the world in the same period, Maersk Line said.
With regards to exports, India's major containerised commodity categories of stones and tiles, garments, metal and kitchenware and appliances, all recorded a stronger growth this year compared to last year, it added.
“Mundra Port emerged as the topmost port in terms of volume traffic for exports to the UK,” said Maersk Line Managing Director - India, Sri Lanka & Bangladesh Cluster, Franck Dedenis.
In terms of inbound shipments, metal and iron and steel scrap witnessed a volume growth year-on-year, among the major containerised commodity categories, Maersk Line said.
It also recommended that India has to continue to enhance its cost competitiveness by cutting the transactions cost.