Economy Is trade no longer a driver of economic growth? Updated : April 24, 2019 04:20 PM IST India’s merchandise exports have grown at a compounded growth rate of just 1 percent since FY12. In contrast, in the 7 years preceding this period, exports had grown at a compounded growth rate of 20 percent. This current period has been the worst performance for exports since at least the 1970s. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.