Nomura says trade deficit 'worryingly high'
Reuters Market Eye - Nomura says India's external sector remains in a "precarious state" after data earlier in the day showed a trade deficit of $19.3 billion in November, underpinning the vulnerability of the rupee.
The trade deficit is narrower than an all-time high of $21 billion in October, but remains "worryingly high", according to Nomura.
A high trade deficit despite a sharp domestic slowdown reflects weak global demand, export bans, as well as rising commodity import prices, Nomura says.
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Prime Minister Narendra Modi came to office with a reputation as a business-friendly leader ready to open up one of the world's biggest markets and sweep away the remnants of the country's socialist past. Full Article