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We worry about India's CAD

India's current account deficit (CAD) could render the economy vulnerable to international challenges.The CAD has doubled since 2006 to US$ 365 billion. Increase export during a global crisis could be out of reach.As a matter of fact the decline hits vital sectors of India's export trade such as engineering, gems and jewellery,petroleum and textiles.India's CAD of 5.4% of GDP has worsened in the last few years.One serious option would be to curb gold imports.Another to cut really fuel subsidies.But export could also be made more competitive through lower cost of credit and reduction on duties and taxes.Whatever the option,India must now urgently take steps to narrow its trade deficit.

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