Indians' Love for Electronics Is a Current-Account Shocker
- Economists see current-account deficit widening to 2.3%
- Demand for gold imports ebbed after surging last year
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Indians’ love for gold is well known, but they have a new-found fascination for electronics. That, however, is coming at a cost.
The relentless rise in purchases of smartphones, TVs and other goods have made electronics India’s second-biggest import item after oil, and is pushing the nation’s trade deficit wider.