Shares in India made a dramatic surge after the decisive victory of the Congress party in the General Election fuelled hopes of economic recovery. In contrast with China, freight from Europe to India and the middle East rose in volume during March. Exports from India to the West declined slightly, but the net result was that the total freight volume only declined 3% over the previous year. Shipping volumes to India are unlikely ever to equal those to China, but nevertheless this is an encouraging sign.