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Resource centre on India's rural distress
 
 

India sees sharp decline in IT sector's ability to fund trade deficit -Krishna Kant

-Business Standard

A relatively slower growth in IT Services exports has made India ever more dependent on capital inflows and workers remittances to fund its trade and the overall current account deficit

IT services are India's single biggest export and a key source of foreign exchange. But there has been a sharp decline in the IT industry’s ability to fund India’s fast-growing merchandise trade deficit and current account deficit.

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