President Pranab Mukherjee today said exports need to be increased to bring down the deficit to sustainable levels. Addressing the Golden Jubilee Celbrations of Indian Institute of Foreign Trade in New Delhi, Mr. Mukherjee termed the very high Current Account Deficit (CAD) which was at 5.4 per cent of GDP during the period April to December, 2012, as a matter of concern. He said, though India have managed this deficit through capital flows, exports have to be increased to bring it to a sustainable level. The President said, there is a need to strengthen the export industry at a time when the global demand is yet to firm up.The President said, slowdown of the global economy has impacted the external sector. He said, while being proud of our performance in commodity exports, there is a need to monitor and exercise caution. Mr. Mukherjee said, it must also be ensured that there is availability of enough food in the country at all times. Mr. Mukherjee said that every citizen should have access to affordable food.
News On AIR | May 2, 2013 4:30 PM
Prez: Exports need to be increased to bring down deficit to sustainable levels