CAD is manageable as India is doing well in services exports: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said that India's current account deficit (CAD) is manageable as it is doing well in services exports. He said that the import numbers of the country are correlated with exports as much of the imported goods are shipped back after value addition. "Our services exports are significant. It is an increasingly growing surplus. So if I have a trade deficit of USD 250-300 billion, almost USD 175-200 billion get made up by services exports. So the net CAD is still in the one per cent of GDP category, which I do not think is a matter of serious enough to be concerned about," he said at an event here. The country's CAD widened marginally to USD 9.7 billion or 1.1 per cent of the GDP in April-June 2024 against USD 8.9 billion or 1 per cent in the year-ago period. A current account deficit occurs when the value of goods and services imported and other payments exceed the value of the export of goods and services and other receipts by a ..