India’s trade deficit reached an alarming level in October. The deficit jumped from $32 billion in September to $42 billion — And the biggest reason for this is the huge jump of 199% in Gold Imports. Gold imports have increased from $4.9B last year to $14.7B. But the story doesn’t end here — • Oil deficit also increased to $11B • Exports fell 11.8% to $34.4B • While imports climbed to $76.1B, due to gold demand, jewelery buying, global prices and festivals, the gold deficit has increased 3 times to $17B in three months. Research firm Nuvama says that global trade slowdown + India’s rising gold imports together could worsen the trade deficit in the coming months. In this video you will understand: How gold is becoming the biggest pressure-point of the economy, why oil and gold together are disturbing the macro balance, what is the meaning of falling exports, how far can the trade deficit go in the coming months. Watch the full video and understand the threat looming on India’s economy.
