India’s trade deficit swells, hits 2-yr high

Sep 02, 2010 |

Correspondent

India’s trade deficit swelled in July to its biggest level in almost two years, putting further pressure on the current account and on the need for India to attract capital inflows to avoid pressure on its
currency. The trade deficit in July widened to its biggest level in 22 months and a purchasing managers’ index showed a slowdown in the pace of export orders received by India’s manufacturers in August, suggesting more pressure on the trade account.July exports rose 13.2 per cent from a year earlier, slowing down sharply from 30 per cent recorded for the month of June.

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