Exploring Structural Changes of Indian Exports Amidst COVID-19: A Constant Market Share Analysis

The study aimed to evaluate the impact of COVID-19 on Indian exports to its five major export partners, Bangladesh, China, Singapore, the USA, and the UAE, using quarterly data from 2019 to 2021 by employing Constant Market Share (CMS) analysis. The findings revealed a sharp decline in Indian exports in the first half of 2020 due to the COVID-19 pandemic. However, a notable revival was observed in Bangladesh and the USA markets during the second half of 2020. The analysis further indicated that India had strong competitiveness in technologically intensive exports, particularly machinery and electrical equipment, across all selected export destinations (except the USA) during the third and fourth quarters of 2021.