One crisis that has not received as much media attention as handling of corruption or fiscal deficit, is India's burgeoning trade deficit that reached a record level of $185 billion in 2011-12. This is around 9-10 per cent of the India's GDP. Import of oil and petro products ($150 billion) and gold and silver ($60 billion) accounted for more than 40 per cent of India's total imports of $485 billion.