India has trade deficit with 9 of top 10 commerce partners\, shows data

India has trade deficit with 9 of top 10 commerce partners, shows data

While India has maintained a comfortable surplus of more than $17 billion with the United States, its largest export market, deficits have become deeper for all other nations

Topics
India trade deficit | Indian exports | India imports

Subhayan Chakraborty  |  New Delhi 

As the government plans to provide incentives to boost domestic manufacturing and drastically cut down on incoming goods, official data shows that India continues to import more from almost all major trade partners than it exports.

According to official data from the Commerce Department, India had a trade deficit with 9 of its top 10 bilateral trade partners at the end of 2019-20, leading to cumulative imports being $113 billion more than exports to these nations. While this figure dropped from the $118 billion registered in the previous year, deficit rose for five countries, while ...
First Published: Sat, August 08 2020. 06:05 IST