The Indian unit of global shipping company Orient Overseas Container Line, is also seeing an exports revival, helped by a “slight rebound” of demand in the U.S.A and Europe. Orders for exports of agricultural goods and cars was strong among neighbouring countries, South East Asia and East Africa.
Containers are used for shipping finished goods, and some food. A successful harvest spurred vegetable shipping by 56 percent in January-June, while garment exports rose 13 percent and cars and spare parts 9 percent.
Good rains during this year’s monsoon will help extend the export growth, according to India’s Container Shipping Lines Association, which estimates that containers out of India grew 8 percent in the seven months through July.
Economists at Yes Bank Ltd. in Mumbai studied exports volume for 97 categories of goods and found that 54 showed an increase in the first seven months, compared with 50 in the year earlier period.