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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Indian conglomerate Adani Group has started building the country's first transshipment port, conceived 25 years ago, and the government will construct another $4-billion facility nearby to create a shipping hub rivalling Chinese facilities in the region. Full Article