Import-Export falls amid Economic Slowdown, Trade Deficit to $ 13.45 billion

On one hand, where India is going through a recession, on the other hand, in the month of August, there has been a decrease in both imports and exports of India. In the month of August, where imports have registered a decrease of 13.45%, there has been a decrease of 6.05% in exports. With this, India's trade deficit was estimated at $ 13.45 billion in August.

Apart from this, exports of gems and jewelery fell by 12.29 percent to Rs 20242.20 crore in August. For this, the problem of lack of cash in the market is being said to be the reason for the shortage in making jewelry.

In the last few months, many statistics related to the economy have been revealed. Among these, the reduction in GDP growth, decline in sales of many companies including auto, weakness in the stock market and retrenchment of employees in some companies are the main ones.

Apart from this, the International Monetary Fund (IMF) has also joined those who have expressed concern over the blurred picture of economic development in India. The IMF has said that India's GDP growth rate is much lower than expected.

The IMF said on Thursday (September 12) that India's economic growth was much weaker than expected due to the uncertainty of corporate and environmental regulatory bodies and weaknesses of some non-banking financial companies.