For a better trade balance

The key feature of India’s merchandise trade during 2013-14, the summary of which was unveiled last week, was the remarkable decline in the deficit. From a level of $190 billion in 2012-13, deficit in the goods trade was down to nearly $139 million, a decline of over $51 billion. This narrowing of the trade deficit was only slightly less dramatic than the stupendous increase witnessed in 2011-12, when the trade deficit had expanded by $66 billion.

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