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Lower Demand For Diamonds And Phones Is Helping Rein In India’s Imports
Not just oil and gold, diamonds and phones are also helping rein in the import bill.
11 Apr 2019, 10:03 AM IST
High oil prices and strong demand for consumer goods like diamonds and smart phones had pushed up India’s import bill through much of 2018. That, together with modest export growth, led to a widening of India’s trade gap.The early months of 2019 have shown some relief with imports in some of these categories stabilising. While oil prices remain volatile, non-oil non-gold imports have seen some moderation. This trend, while helpful in...
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