The significant fall in gold imports though has not helped in narrowing the country’s trade deficit — the difference between imports and exports. The merchandise trade deficit in 2022-23 was estimated at $267 billion against $191 billion in the year-ago period.
India’s gold imports, which have a bearing on the current account deficit, dipped 24.15 per cent to $35 billion in 2022-23 due to global economic uncertainties, according to data from the commerce ministry.
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