In a written reply to the Lok Sabha, Nirmala Sitharaman, the Commerce and Industry minister said that India is facing a trade deficit with more than 25 countries which majorly includes China, Iran, Australia, Iraq etc. India continues the trade deficit with these countries since past three continuous years.
She also said that India is facing trade deficit in some important high in demand commodities like diamond, fertilisers, gold and crude oil.
Apart from these India also faces trade deficit with Korea, Ukraine, Canada, Germany, Indonesia, Russia and Taiwan. She also said, “India’s agriculture exports during April-February 2016 worked out at $18.8 billion as against $18.7 billion in 2014-15”.
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