India’s trade deficit narrowed to $11.45 billion in July from a month ago, following a slowdown in imports even as exports expanded 3.94% year-on-year
New Delhi: India’s merchandise export growth, at 3.94%, decelerated to its lowest level in eight months as readymade garments, pharmaceuticals and gems and jewellery exports contracted.
However, imports continued to grow in double digits for a six consecutive month, though at a slower pace of 15.4%, thus leaving a trade deficit of $11.4 billion.
Exporters’ bodies demanded that their concerns regarding a liquidity crunch under the Goods and Services Tax (GST) regime and reducing the cost of credit to the sector be addressed.
New Delhi: India’s merchandise export growth, at 3.94%, decelerated to its lowest level in eight months as readymade garments, pharmaceuticals and gems and jewellery exports contracted.
However, imports continued to grow in double digits for a six consecutive month, though at a slower pace of 15.4%, thus leaving a trade deficit of $11.4 billion.
Exporters’ bodies demanded that their concerns regarding a liquidity crunch under the Goods and Services Tax (GST) regime and reducing the cost of credit to the sector be addressed.
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