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India’s trade deficit down at $99.9 bn till Nov

January 1: Amid concerns over the rupee’s depreciation, India’s trade deficit has dropped by 22.5% to $99.9 billion during April-November 2013, compared to $129 billion during the same period previous year, Union Commerce & Industry minister Anand Sharma said.

The minister expressed optimism over the improvement in the economic health of the country in 2014 and said there is “visible rebound” in industrial activity.

“There is also optimism about the scenario on the export front. Inspite of weak demand in traditional markets, exports have done reasonably well and in the first eight months of the current financial year, exports touched $204 billion, registering a growth of over 6% over the same period last year,” Sharma said in a statement issued on January 1.

“It was also reassuring that the trade deficit also came down to US$ 99.9 billion during this period as compared to US$ 129 billion during the same period last year. I am sure that the in the remaining period of this financial year, exports will show a strong and dynamic growth,” he added.