India Merchandise Exports at Record High of $ 418 Billion in FY22

Despite the record exports, India is facing a widening current-account balance due to growing gap between imports and exports and falling foreign investments. The current account, a broad measure of the country’s overseas trade and services flows, was in a deficit of $ 23 billion, or 2.7% of gross domestic product, in the three months ended December, the Reserve Bank of India said in a statement on Thursday .

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