New Delhi: India’s merchandise export growth, at 3.94%, decelerated to its lowest level in eight months as readymade garments, pharmaceuticals and gems and jewellery exports contracted. However, imports continued to grow in double digits for a six consecutive month, though at a slower pace of 15.4%, thus leaving a trade deficit of $11.4 billion. Exporters’ bodies demanded that their concerns regarding a liquidity crunch under the Goods and Services Tax (GST) regime and reducing the cost of credit to the sector be addressed.

Source: Mint August 14, 2017 12:59 UTC