The Indian rupee's depreciation can serve as a silver lining for exporters, making the US and EU-bound goods more valuable, government sources said on the recent weakening of the local currency.
India's trade deficit widened by 14.1% year-on-year during the April–December period, showing strong domestic demand in the economy. Despite global headwinds, the nation's GDP growth stands at 10% YoY.
Government sources suggest that the latest trade data points to a current account deficit stabilising at around 1%. They argue that the depreciation of the rupee should be assessed in the broader context of emerging market currencies, many of which have witnessed steeper declines amid global volatility.
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