Devendra Pant, chief economist at India Ratings, said this would affect India's trade outlook for 2019-20. “Global demand is a major driver of India’s exports. If the growth falls to sub-three per cent, it will certainly have an impact on the export growth outlook for FY20," he said.
Exports in recent months have been struggling to grow. These rose just 2.44 per cent in February, against 3.74 per cent in January.
In its annual forecast, the 164-member WTO renewed its concerns about systemic threats that could continue to disrupt the world's economy, notably retaliatory tariffs between China and the United States.
There are indications that ongoing talks between Washington and Beijing could resolve the bruising tariff battle, but timelines for a possible deal are not clear.
EU takes India to WTO
The EU has launched two WTO disputes against India over import duties on IT products and against Turkey over measures