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Category :
Economy
Headline :
India's trade deficit expected to decline further: Eco Survey
Date:
22/07/2024 19:19
Boost in domestic manufacturing due to PLI (production linked incentive) schemes and increase in exports on account of free trade agreements are expected to bridge the country's trade deficit further, Economic Survey said on Monday.
However, it said that fluctuations in commodity prices, especially for critical imports like oil, metals, and agricultural products, can impact India's trade balance and inflation levels.
The Survey said that though ongoing geopolitical headwinds impacted India's merchandise exports, lowering international commodity prices ensured a lower trade deficit in FY24 than in FY23.
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