Commerce and Industry Minister Piyush Goyal on Tuesday said that India's current account deficit (CAD) is manageable as it is doing well in services exports.
He said that the import numbers of the country are correlated with exports as much of the imported goods are shipped back after value addition.
“Our services exports are significant. It is an increasingly growing surplus. So if I have a trade deficit of $250-300 billion, almost $175-200 billion get made up by services exports. So the net CAD is still in the one per cent of GDP category, which I do not think is a matter of serious enough to be concerned about,” he said at an event here.
This story is from the New Delhi 20November2024 edition of Millennium Post Delhi.
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This story is from the New Delhi 20November2024 edition of Millennium Post Delhi.
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