Govt taking many steps to address rising trade deficit: Sanjay Budhia

The Government of India has been undertaking numerous measures and introduced several policy reforms in the past to address the rising trade deficit. This includes targeted policies for promoting Indian exports and advocating the vision of self-sufficiency, Sanjay Budhia Chairman, CII National Committee on Exports & Imports & MD, Patton Group said on Wednesday. Owing to these efforts, January 2023 trade data suggests a moderation in the trade deficit which will significantly contribute to the foreign reserves of India, he said. In spite of global headwinds, political turmoil and recessionary trends amongst the major economies, during April-January this fiscal, the country’s merchandise exports rose by