India s trade deficit narrows and services exports increase, prompting economists to lower the current account deficit (CAD) estimates for FY24. Capital inflows are expected to improve, but the rupee may not strengthen as the central bank aims to boost reserves. April-January period sees lower net services exports and improved FDI flows.
The Reserve Bank of India (RBI) has highlighted the challenges faced by Indian trade, citing a contractionary zone in PMIs for new export orders in December.The RBI also noted that retail inflation in India has gradually descended closer to the target, despite growth beating expectations. The central bank attributed India s growth to strong domestic demand.
India Trade Deficit: India s merchandise trade deficit contracted to $19.8 billion in December from $20.6 billion in November, according to Reuters calculations based on export and import figures given by the government on Monday.
India s merchandise trade deficit contracted to $19.8 billion in December from $20.6 billion in November, according to Reuters calculations based on export and import figures given by the government on Monday.
Indian exports: India s trade deficit narrowed to USD 20.58 billion in November from USD 31.46 billion in October. Economists, surveyed by Reuters, anticipated it to be USD 20.50 billion. Exports decreased by 2.8% to USD 33.90 billion, while imports reduced to USD 54.48 billion compared to USD 55.8 billion in November 2022.