• Welcome to Tamil Brahmins forums.

    You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our Free Brahmin Community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

    If you have any problems with the registration process or your account login, please contact contact us.

Indians' love for electronics is widening trade deficit, weakening rupee

prasad1

Active member
HIGHLIGHTS


  • Electronics has become India’s second biggest import item after oil, replacing gold, and is pushing the country’s trade deficit wider
  • Widening trade deficit is bad news for the rupee, which is already roiled by worries of costlier imported oil


hat’s bad news for the rupee, which is already roiled by worries of costlier imported oil. Economists polled by Bloomberg forecast the current-account deficit to widen to 2.3 per cent of gross domestic product (GDP) in the fiscal year to March 2019, from 1.9 per cent currently.


“The rise in imports of electronic items is already impacting the current-account deficit,” said Saugata Bhattacharya, chief economist at Mumbai-based Axis Bank Ltd. “One way to solve this is to see India integrate more into the global supply chain in the coming years.”





Prime Minister
Narendra Modi has banked on his ‘Make in India’ program -- aimed at fostering local manufacturing-- to help cut down the country’s reliance on imports. But global companies have yet to buy into it in a big way.

https://timesofindia.indiatimes.com/business/india-business/indians-love-for-electronics-is-widening-trade-deficit-weakening-rupee/articleshow/64850549.cms



 

Latest ads

Back
Top