New Delhi, Jan 29 - The Economic Survey 2017-18 tabled in Parliament on Monday said that prospects for India’s external sector in this and the coming year "look bright with world trade projected to grow".
The survey presented by Finance Minister Arun Jaitley in Parliament projected the world trade to grow at 4.2% and 4% in 2017 and 2018 respectively from 2.4% in 2016.
"Export growth in 2016-17 was fairly broad based with positive growth in major categories except textiles and allied products and leather and leather manufactures," the survey said.
"In 2017-18 (April-November) among the major sectors, there was good export growth in engineering goods and petroleum crude and products, moderate growth in chemicals and related products, and textiles and allied products; but negative growth in gems and jewellery."
As per the survey, the downside risks "lie in the rise in oil prices".
"However, this could also lead to higher inflow of remittances which have started picking up," the survey said.
"The supportive policies like GST, logistics and trade facilitation policies of the government could help further."