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This is an archive article published on June 18, 2002

Trade deficit likely to touch $15.4 billion

India's trade deficit is likely to touch $15.4 billion during the year 2002-03, according to Centre for Monitoring Indian Economy (CMIE). In...

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India’s trade deficit is likely to touch $15.4 billion during the year 2002-03, according to Centre for Monitoring Indian Economy (CMIE).

In its latest review of the Indian economy, CMIE said on payments basis, the trade deficit would be higher because defence spending was likely to increase during the year.

Owing to inclusion of defence expenditure, the difference between the customs-based trade deficit and payments-based deficit is likely to widen to around $8 billion.

Growth of invisibles would likely be affected for a number of reasons, the prime one being the threat of an armed conflict between India and Pakistan.

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