India imposes import restrictions on certain gold jewellery, articles due to THIS reason
1 year, 5 months ago

India imposes import restrictions on certain gold jewellery, articles due to THIS reason

India TV News  

The government on Wednesday imposed import restrictions on certain gold jewellery and articles, a move which would help cut the import of non-essential items and contain the trade deficit. Imports of pearls, precious and semi-precious stones dipped by 25.36 per cent to about USD 4 billion during April-May this fiscal. Overall merchandise imports during April-May this fiscal declined 10.24 per cent to USD 107 billion. Import of certain gold jewellery stood at over USD 110 million in April-may this fiscal and it was mainly imported from countries like UAE, Indonesia and the US.

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History of this topic

Gold googly bamboozles import data
1 day, 9 hours ago

Gold googly bamboozles import data

The Hindu  

In what may constitute the steepest revision in India’s trade data in recent times, the Centre has revised India’s import bill for November 2024 by almost six billion dollars to $63.86 billion from the record tally of $70 billion reported as quick estimates by the Commerce Ministry last month, led by a sharp $5 billion downward revision in gold imports. …

$5 billion shock! India makes largest-ever revision to gold import estimates for November
Trending News
1 day, 18 hours ago

$5 billion shock! India makes largest-ever revision to gold import estimates for November

Live Mint  

India has slashed its November gold import estimates by an unprecedented $5 billion, the largest revision for any commodity in history, after errors in preliminary calculations inflated the figure to a record, government data showed on Wednesday. New Delhi reported last month that its gold imports urged to a record high of $14.8 billion in November, more than doubling from …

India's current account deficit expected at 1.1% of GDP in FY25, says ICICI bank
1 week, 3 days ago

India's current account deficit expected at 1.1% of GDP in FY25, says ICICI bank

Hindustan Times  

India's Current Account Deficit is expected to remain at 1.1 per cent of the Gross Domestic Product in the financial year 2024-25, according to a report by ICICI Bank. In the fiscal year 2024–2025, India's Current Account Deficit is anticipated to stay at 1.1% of GDP, citing to ICICI Bank analysis The report highlighted significant changes in the country's external …

India’s CAD likely to exceed 2 pc of GDP in Q3 FY25 amid gold import surge: Report
1 week, 5 days ago

India’s CAD likely to exceed 2 pc of GDP in Q3 FY25 amid gold import surge: Report

Live Mint  

New Delhi, December 28 : India's Current Account Deficit is expected to rise above 2 per cent of GDP in the third quarter of FY25, driven by a surge in gold imports, according to a report by Bank of Baroda. However, resilient services exports and remittance inflows are likely to cushion the overall impact, keeping the CAD for FY25 within …

Mint Primer: How India’s trade gap soared, and how it might hurt
3 weeks ago

Mint Primer: How India’s trade gap soared, and how it might hurt

Live Mint  

India’s gold imports jumped fourfold to nearly $15 billion in November, powering a 27% surge in goods imports. Prominent drivers of the trade deficit were higher gold imports and falling realizations from petroleum exports. Gold imports touched $14.86 billion, a fourfold increase from $3.44 billion in November 2023, driven by higher volumes, likely fuelled by festive and wedding season demand. …

India’s record gold import said to be due to calculation error
3 weeks, 1 day ago

India’s record gold import said to be due to calculation error

Deccan Chronicle  

A surge in gold imports that widened India’s trade deficit to a record last month and pushed the rupee to an all-time low was due to an error in calculation, according to people with knowledge of the matter.Officials double-counted gold shipments in warehouses following a change in methodology in July, the people said, asking not to be identified ahead of …

Rahul slams government over trade deficit touching all-time high
3 weeks, 1 day ago

Rahul slams government over trade deficit touching all-time high

The Hindu  

Slamming the Modi government, Leader of Opposition in the Lok Sabha Rahul Gandhi on Wednesday said prioritising crony businesses over play-fair ones leads to weakened manufacturing sector, depreciating currency, record high trade deficits, high interest rates, falling consumption and soaring inflation. "Result: Weakened manufacturing sector, depreciating currency, record high trade deficits, high interest rates, falling consumption and soaring inflation," he …

Rahul slams govt over trade deficit touching all-time high
3 weeks, 1 day ago

Rahul slams govt over trade deficit touching all-time high

Deccan Chronicle  

New Delhi: Slamming the Modi government, Leader of Opposition in the Lok Sabha Rahul Gandhi on Wednesday said prioritising crony businesses over play-fair ones leads to weakened manufacturing sector, depreciating currency, record high trade deficits, high interest rates, falling consumption and soaring inflation.Tagging a media report which said that trade deficit and imports are at an all-time high, Gandhi hit …

Trade shocker: On November’s trade estimates
Trending News
3 weeks, 2 days ago

Trade shocker: On November’s trade estimates

The Hindu  

This October’s foreign trade numbers had offered a sliver of hope for India’s generally weak export story over the past couple of years, as goods exports grew at a 28-month high pace of 17.2%. As in August, November’s import bill spike was led by gold imports that jumped 331.5% from last November to a whopping $14.9 billion. Gems and jewellery …

India's Gold Imports Surge 132% in November
Trending News
3 weeks, 2 days ago

India's Gold Imports Surge 132% in November

Deccan Chronicle  

Chennai: Gold imports went up 132 per cent in volume terms to 130 tonnes in the month of November. Gold imports in volume terms went up 132 per cent to 130 tonnes in November against 56 tonnes in the same month last year. Silver imports between January and November stood at 7500 tonnes, which was 121 per cent higher than …

India's gold imports to plunge in December after record November
3 weeks, 2 days ago

India's gold imports to plunge in December after record November

Deccan Chronicle  

India's gold imports are poised for a sharp slowdown in December following record purchases in November, in the absence of any major festival and as rebounding prices prompt buyers to delay purchases, trade and government officials said.Lower imports by India, the world's second-biggest consumer of the precious metal, could cap a rally in global prices that hit a record high …

Record trade deficit adds to rupee’s challenges, may open to all-time low
3 weeks, 2 days ago

Record trade deficit adds to rupee’s challenges, may open to all-time low

Live Mint  

By Nimesh Vora MUMBAI, Dec 17 - The Indian rupee may slip to an all-time low on Tuesday with the currency, already under pressure from slowing growth, choppy equity flows and a dollar rally, will have to contend with an unexpected widening in trade deficit to a record high. The jump in gold imports and weak exports pushed India's merchandise …

Trade deficit at a record $38bn as gold imports rise
Top News
3 weeks, 3 days ago

Trade deficit at a record $38bn as gold imports rise

Hindustan Times  

India’s merchandise trade deficit widened to a record $37.84 billion in November, driven primarily by surging gold imports and falling exports, a trend experts said threatens to add pressure on the rupee which is already strained by three months of portfolio outflows. Imports, however, surged by 27% to $69.95 billion compared to $55.06 billion in November 2023, mainly due to …

India’s Trade Deficit Widens to Record as Gold Demand Soars
Top News
3 weeks, 3 days ago

India’s Trade Deficit Widens to Record as Gold Demand Soars

Live Mint  

-- India’s trade deficit expanded to a record high in November, as the nation’s import bill ballooned, particularly due to a rise in gold shipments. The gap between exports and imports stood at $37.8 billion in November, trade ministry data showed Monday, much higher than the $23 billion deficit forecast by economists in a Bloomberg survey. A widening trade deficit …

India’s imports rises to 27%, touches to record high of almost $70 billion
3 weeks, 3 days ago

India’s imports rises to 27%, touches to record high of almost $70 billion

The Hindu  

India’s merchandise exports fell 4.83% to $32.11 billion in November while the import bill jumped 27% to a record high of almost $70 billion, as per data released by the Commerce Ministry. This is the third time in four months that India’s import bill has hit a record high, but November’s tally surpasses the last two occasions by a wide …

Foreign National Wearing Personal Jewellery To India Not Subject To Import Duty: Delhi High Court
1 month ago

Foreign National Wearing Personal Jewellery To India Not Subject To Import Duty: Delhi High Court

Live Law  

The Delhi High Court has held that the jewellery worn to India by a foreign national is not subject to customs duty. The same was not brought in a concealed manner…We accordingly hold that the order of confiscation, customs duty and the penalty imposed is without any legal foundation.” The High Court said that the present case stands squarely covered …

Rise in smuggling of gold, cocaine: DRI report
1 month ago

Rise in smuggling of gold, cocaine: DRI report

Hindustan Times  

India has seen a marked increase in smuggling of cocaine and gold, with borders in the country’s North-East becoming an area of concern and traffickers employing new techniques. On gold smuggling, the DRI report stated that “India has become a major destination for illicit gold imports, with gold and silver predominantly originating from West Asia, including the UAE and Saudi …

Barter at the border: India's export curbs and price disparity fuel rising illegal trade at the Bangladesh border
1 month ago

Barter at the border: India's export curbs and price disparity fuel rising illegal trade at the Bangladesh border

New Indian Express  

Since mid-2022, smuggling of gold in exchange for food items has surged along the India-Bangladesh border, driven by India's export restrictions and a significant price disparity between the two countries. India's Border Security Force actively tries to prevent such illegal activities, searching vehicles for smuggled goods like gold, drugs, and food staples, including sugar and onions. Despite India reducing its …

India’s current account deficit to remain manageable in FY25, Rupee to remain in pressure: Bank of Baroda
1 month, 3 weeks ago

India’s current account deficit to remain manageable in FY25, Rupee to remain in pressure: Bank of Baroda

Live Mint  

New Delhi, November 15 : India's current account deficit will remain within a manageable range for both FY25 and FY26, largely due to muted oil prices that are expected to support the country's external financial position, projected a recent report by Bank of Baroda. Despite global market volatility, the report stated that steady oil prices at current levels are a …

India's Gold Rush: 51% More Than China in 3 Months
Trending News
2 months, 1 week ago

India's Gold Rush: 51% More Than China in 3 Months

Firstpost  

India's gold buying surge has been driven by a combination of factors, including the easing of import duties, revenge buying, and wedding and festive demand. The country's demand for gold has surged by 51% in the past three months, with Indians purchasing 248.3 tonnes of gold during July-September 2024. This surge has placed India as the largest gold importer in …

Global Gold Demand Soars 5% in Q3, Hitting 1,313 Tonnes
Trending News
2 months, 1 week ago

Global Gold Demand Soars 5% in Q3, Hitting 1,313 Tonnes

ABP News  

Global gold demand surged by 5% in the third quarter of 2024, reaching 1,313 tonnes. This growth was driven by strong investment activity amid record-high gold prices. Central bank gold purchases fell by nearly half, declining 49 per cent to 186.2 tonnes compared to 363.9 tonnes during the same period in 2023.

Is the spike in India’s trade deficit a worry?
3 months, 2 weeks ago

Is the spike in India’s trade deficit a worry?

The Hindu  

The story so far: After a positive start to goods exports in the first quarter of 2024-25, there has been a blip in momentum. On the exports front, 18 of India’s top 30 segments recorded growth in July and 19 in August, but the big-ticket sectors like petroleum, and gems and jewellery, have tanked significantly. While gems and jewellery exports …

August’s record gold influx lifts import bill to all-time high
3 months, 3 weeks ago

August’s record gold influx lifts import bill to all-time high

The Hindu  

India’s goods exports shrank 9.32% to $34.71 billion in August, while the import bill expanded 3.3% to an all-time high of $64.36 billion, fuelled by a doubling in gold imports to a record $10.1 billion. On the surge in gold imports, the top trade official pointed to plausible factors such as the recent reduction in import duty from 15% to …

Exports slip to 8-month low in July, deficit widens 23.7%
4 months, 3 weeks ago

Exports slip to 8-month low in July, deficit widens 23.7%

The Hindu  

Breaking a three-month streak of positive growth, India’s goods exports contracted 1.5% in July to $33.98 billion, the lowest in eight months, even as the import bill rose 7.5% to $57.5 billion, widening the trade deficit by a sharp 23.7% in the month to $23.5 billion. Sequentially, exports dropped 3.5% from June, while imports grew 2.3%, leading to an almost …

India’s Trade Deficit Widens to $23.5B in July
4 months, 3 weeks ago

India’s Trade Deficit Widens to $23.5B in July

Deccan Chronicle  

Chennai: India's trade deficit widened to $23.50 billion in July as exports dipped 1.4 per cent and imports grew 7.5 per cent. However, combined exports of merchandise and services registered a growth of 2.8 per cent and the ministry expects this year’s combined exports to be higher than last year’s. Merchandise exports in July this year dipped by 1.4 per …

Gold Rate Today: Check 22 Carat Price In Your City On July 31
5 months, 1 week ago

Gold Rate Today: Check 22 Carat Price In Your City On July 31

News 18  

Gold Rate Today In India: On July 31, gold prices in India hovered near Rs 68,000 per 10 grams. This rate includes a premium for the highest purity gold, with 24-carat gold priced at Rs 68,940 per 10 grams. Gold rate today in India: Retail gold price on August 1 Check gold rates today in different cities on July 31, …

High Prices Lead To 5% Decline In India's Gold Demand For June Quarter: Report
5 months, 1 week ago

High Prices Lead To 5% Decline In India's Gold Demand For June Quarter: Report

News 18  

India’s gold demand declined 5 per cent to 149.7 tonnes during the June quarter, due to record high prices, the World Gold Council said in a report on Tuesday. Sachin Jain, CEO, WGC Regional, India, said, “India’s gold demand softened slightly in the second quarter of 2024, reaching 149.7 tonnes, down 5 per cent year-on-year. Further, the report said the …

Gold Rate Today: Check 22 Carat Price In Your City On July 30
5 months, 1 week ago

Gold Rate Today: Check 22 Carat Price In Your City On July 30

News 18  

Gold Rate Today In India: On July 30, gold prices in India hovered near Rs 70,000 per 10 grams. This rate includes a premium for the highest purity gold, with 24-carat gold priced at Rs 69,170 per 10 grams. Gold rate today in India: Retail gold price on July 31 Check gold rates today in different cities on July 30, …

Gold, Silver Prices Today: Check Latest Bullion Rates In Your City on July 27
5 months, 1 week ago

Gold, Silver Prices Today: Check Latest Bullion Rates In Your City on July 27

News 18  

Gold Rate Today In India: On July 27, gold prices in India fell and continued to trade below Rs 70,000 per 10 grams. The basic customs duty on coins of precious metals, gold/silver findings, and gold and silver bars was reduced to 6 per cent from 15 per cent. Gold rate today in India: Retail gold price on July 28 …

Gold, silver duty cut to benefit Kerala's consumers
5 months, 2 weeks ago

Gold, silver duty cut to benefit Kerala's consumers

New Indian Express  

KOCHI: Consumers in Kerala, one of India’s largest markets for gold and silver jewellery, are expected to benefit significantly from the reduction in Basic Customs Duty on gold and silver from 10% to 5%, and the Agriculture Infrastructure & Development Cess from 5% to 1%. Sachin Jain, WGC regional CEO, India, said reduction of duty on gold will boost overall …

Customs duty cuts across sectors: Experts predict rise in consumer confidence and spending
5 months, 2 weeks ago

Customs duty cuts across sectors: Experts predict rise in consumer confidence and spending

Deccan Chronicle  

Tirupati: Finance minister Nirmala Sitharaman's Union Budget 2024-25 on Tuesday has set the stage for significant shifts in consumer spending patterns and market dynamics. She announced a reduction in basic customs duty on mobile phones, mobile printed circuit board assembly and mobile chargers from 20 per cent to 15 per cent. This would boost domestic manufacturing, reduce import dependence and …

Gold prices slip after Nirmala Sitharaman announces import duties cut in Budget
5 months, 2 weeks ago

Gold prices slip after Nirmala Sitharaman announces import duties cut in Budget

Hindustan Times  

Finance minister Nirmala Sitharaman on Tuesday announced a cut in import duties on precious metals gold and silver from 15 per cent to 6 per cent. Finance minister Nirmala Sitharaman on Tuesday announced a cut in import duties on precious metals gold and silver from 15 per cent to 6 per cent After the government's announcement, shares of gold and …

Gold Rate, Budget 2024: Jewellery stocks surge after government cuts basic custom duty on gold, silver
5 months, 2 weeks ago

Gold Rate, Budget 2024: Jewellery stocks surge after government cuts basic custom duty on gold, silver

The Hindu  

Shares of gold and jewellery retailers surged on July 23 after Finance Minister Nirmala Sitharaman said the government will reduce the basic customs duty on the yellow metal and silver to 6%. In addition, shares of Titan Company climbed 3.66% to ₹3,371.65 per piece, Tribhovandas Bhimhji Zaveri rose 2.79% to ₹140.20, and Kalyan Jewellers India gained 1.54% to ₹537.05 apiece …

Budget 2024: Customs duty on gold, silver cut to 6%, sops for diamond industry
5 months, 2 weeks ago

Budget 2024: Customs duty on gold, silver cut to 6%, sops for diamond industry

The Hindu  

Union Finance Minister Nirmala Sitharaman has proposed to reduce Customs Duties on gold and silver to 6% and on platinum to 6.4% providing big relief to buyers of these precious metals. As per the proposal, duty on gold bars has been cut from 15% to 6%, gold dore from 14.355 to 5.35%, for platinum from 15.4% to 6.4%, for silver …

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data
5 months, 3 weeks ago

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data

India TV News  

The government of India on Monday released data on the exports by the nation in the month of June. According to the data, India's merchandise export in June increased by 2.56 per cent to $35.32 billion compared to $34.32 billion in June last year. In May, the country's merchandise exports increased by 9.1 per cent and reached USD 38.13 billion, …

India's Gems Exports Drop 15% in June, Gold Jewellery Rises 6%
5 months, 4 weeks ago

India's Gems Exports Drop 15% in June, Gold Jewellery Rises 6%

Deccan Chronicle  

Chennai: Gross exports of gems and jewellery were down 15 per cent in June and imports declined 16.5 per cent. At $1909 million, gross exports of gems and jewellery declined 14.78 per cent in June while gross imports at $1548.93 million were down 16.51 per cent. Gold jewellery exports provided some solace in June with a growth of 6.36 per …

Budget 2024: From import duty cut to Diamond Imprest Licence, here’s what gem and jewellery sector expects
5 months, 4 weeks ago

Budget 2024: From import duty cut to Diamond Imprest Licence, here’s what gem and jewellery sector expects

Live Mint  

The jewellery industry is eagerly anticipating potential duty cuts on gold, silver, diamonds, and platinum in the upcoming 2024-25 Budget, to be presented by Finance Minister Nirmala Sitharaman on July 23. I request the Hon’ble Finance Minister to introduce a Safe Harbour rule in SNZs, introduce the Diamond Imprest License, and reduce the import duty on gold, silver, and platinum …

Gold, silver import surges 210% in 2023-24 from UAE; need duty revision in FTA: GTRI
6 months, 3 weeks ago

Gold, silver import surges 210% in 2023-24 from UAE; need duty revision in FTA: GTRI

The Hindu  

“India’s gold and silver imports from its free trade agreement partner UAE have skyrocketed 210% to $10.7 billion in 2023-24 and there is a need to potentially revise the concessional customs duty rates under the pact to mitigate the arbitrage driving this surge,” a report said on June 17. Economic think tank Global Trade Research Initiative said this sharp rise …

Gold and silver prices on May 29 | Check latest rates in your city
7 months, 1 week ago

Gold and silver prices on May 29 | Check latest rates in your city

India TV News  

Gold and silver prices: The price of 24-carat gold went up by Rs 10, with 10 grams of the precious metal trading at Rs 72,940 on Wednesday. City-wise rates of 24 carat gold per 10 gram and Silver 999 Fine per 10 gram today New Delhi: Gold prices: 72,410 Silver: 95,780 Mumbai: Gold: 72,530 Silver: 95,940 Chennai: Gold: 72,740 Silver: …

Customs seize 11.40 kg gold, electronics worth ₹7.46 crore
7 months, 2 weeks ago

Customs seize 11.40 kg gold, electronics worth ₹7.46 crore

Hindustan Times  

MUMBAI: The Customs department seized over 11.40kg of gold and electronics items valued at ₹7.46 core in the last two days at Chhatrapati Shivaji Maharaj International Airport. The officials intercepted 22 people, including two foreign nationals, and found gold concealed in their clothes, sanitary pads, trolley, undergarments and inside and on the body. The officials recovered 24 kt gold dust …

Gold rush in India despite price hike
8 months ago

Gold rush in India despite price hike

Deccan Chronicle  

Hyderabad: Notwithstanding skyrocketing prices of gold, consumers in India continue to invest in the precious metal, with overall demand rising 8% taking it to 136.6 tonne in the first quarter of 2024, against 126.3 tonne in the corresponding quarter of 2023, according to the World Gold Council. In India, the total jewellery demand went up a modest 4% to 95.5 …

Plain gold jewellery exports grew 61 pc in FY24
8 months, 2 weeks ago

Plain gold jewellery exports grew 61 pc in FY24

Deccan Chronicle  

Chennai: Exports of plain gold jewellery, which had been low during the Covid years, surged 61 per cent in FY24.For FY24, exports of plain gold jewellery surged by an impressive 61.72 per cent to $ 6792.24 million as compared to $ 4199.96 million in FY23. Gross export of total gold jewellery for the FY 2023-24 grew 16.75 per cent to …

Jan. goods trade deficit narrows sequentially to nine-month low of $17.5 billion
10 months, 3 weeks ago

Jan. goods trade deficit narrows sequentially to nine-month low of $17.5 billion

The Hindu  

India’s merchandise trade deficit, which had hit a record high of $29.9 billion in October, narrowed sequentially for the third straight month and touched a nine-month low of $17.5 billion in January, provisional estimates released by the Commerce Ministry on Thursday showed. Services exports, whose actual numbers will be released later, are estimated to have expanded 17.5% last month to …

Gold demand in India may hit 900 tonnes this year
10 months, 3 weeks ago

Gold demand in India may hit 900 tonnes this year

Live Mint  

The demand for gold in India, which has been in the range of 700-800 tonnes annually since 2019, is expected to increase to 800-900 tonnes in the calendar year 2024 on the back of robust economic growth and higher income, Somasundaram P.R., managing director at the World Gold Council, told Mint. However, a pick up in the purchase of gold …

Duty concession on gold will be major concern for India under proposed FTA with Peru: Economic think tank
10 months, 4 weeks ago

Duty concession on gold will be major concern for India under proposed FTA with Peru: Economic think tank

New Indian Express  

NEW DELHI: Duty concessions on gold, which accounts for 80 per cent of India's imports from Peru, is the most challenging issue for New Delhi under the proposed free trade agreement with the South American nation, a report said on Sunday. Economic think tank Global Trade Research Initiative said that gold, a high-value product with low volume, attracts a 10 …

The hike in import duties for gold, silver findings | Explained
11 months ago

The hike in import duties for gold, silver findings | Explained

The Hindu  

The story so far: In a move towards standardisation and preventing the circumvention of duty, the Finance Ministry on Tuesday hiked import duties on gold and silver findings and coins of precious metal to 15%. As observed in the Ministry of Commerce’s Trade Stat database, import of unwrought gold and/or gold in semi-manufactured form in October 2023 rose 95.41% on …

Import duty on gold, silver findings and precious metal coins increased to 15%
11 months, 2 weeks ago

Import duty on gold, silver findings and precious metal coins increased to 15%

Live Mint  

The government has increased import duty on gold and silver findings and coins of precious metals coins to 15 percent from 11 percent, starting from January 22, as per a Reuters report. An official notification has stated that there will be a 10 percent Basic Custom Duty and a 5 percent Agriculture Infrastructure Development Cess on certain imports. Track | …

Deceptive signals: The Hindu Editorial on India’s October 2023 goods exports numbers
1 year, 1 month ago

Deceptive signals: The Hindu Editorial on India’s October 2023 goods exports numbers

The Hindu  

Last month, India’s goods exports recorded only their second uptick this financial year, with a 6.2% rise. Merchandise imports grew a sharper 12.3% over last October and nearly 21% over September’s tally to hit an all-time high of $65.03 billion. The Finance Ministry’s monthly economic review asserted that merchandise exports “surprised on the upside” with the highest growth in 11 …

India's Q3 gold demand up 10% at 210.2 tons; price to play key role in Dhanteras buying
1 year, 2 months ago

India's Q3 gold demand up 10% at 210.2 tons; price to play key role in Dhanteras buying

The Hindu  

Gold demand in India, the world's second-largest consumer of the yellow metal, rose 10% to 210.2 tonnes during the third quarter of this calendar year, aided by the softening of gold prices and festive demand, according to the World Gold Council. Releasing the quarterly gold demand report, the WGC said India's gold demand increased to 210.2 tonnes during the third …

Trade deficit eases as imports plunge
1 year, 2 months ago

Trade deficit eases as imports plunge

Live Mint  

India’s trade deficit narrowed in September as imports plunged and exports continued to slide amid slowing demand in the West and China. Goods exports slipped marginally by 2.59% to $34.47 billion compared to $35.39 billion in September 2022, while imports fell a steeper 15% to $53.84 billion against $63.37 billion a year earlier. “India’s merchandise trade deficit compressed considerably to …

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