Though there are indications of hardening crude oil prices and supply chain bottlenecks, India's strong performance stands out even as global growth shows a "sluggish" trend, the ministry says
On a year-on-year basis, the country's current account deficit narrowed by 3.8% from $30.9 billion in the September quarter last fiscal year.
CAD narrows on a yearly basis but widens sequentially.
The market capitalisation of BSE-listed firms hit an all-time high of ₹296.04 lakh crore, breaching its previous high of ₹294.36 touched on June 21.
The sequential decline in CAD mainly on moderation in the trade deficit to $52.6 bn from $71.3 bn in the previous quarter, coupled with robust services exports
India will be one of the fastest-growing Fitch-rated sovereigns globally at 6% in FY24, supported by resilient investment prospects, says the American ratings agency
Experts have cited high import duty for the dip in imports of yellow metal; WGC sees a healthy upside for investment in 2023
Merchandise exports dropped 13.9% year-on-year to $38.38 billion in March while imports fell 7.9% year-on-year to $58.11 billion.
The CAD stands for the measurement of any country’s trade when the value of the goods and services imported exceeds the value of goods and services exported.
The current account deficit (CAD) widened to $36.4 billion in Q2 FY23, from $18.2 billion in Q1 of the fiscal.
