List of 'non-essential' imports to be finalised by the end of this week

On the other hand, trade deficit reached a whopping $465.58 billion in 2017-18, up by more than 21%

Gold, finished steel, electronics and food items, such as fruits and almonds, among others, may figure in a comprehensive list of 'non-essential' imports, to be finalised by the end of the week. The items had been suggested in a meeting called by the Department of Economic Affairs on Monday to rein in the widening current account deficit (CAD), which was attended by senior officials from all economic ministries, according to senior sources.

Almost 10 months after the mid-term trade policy was updated to prioritise the reduction of India’s ballooning trade deficit and improve exports, the government has swung into action