NITI Aayog flags West Asia tensions widening current account deficit
Business
Tensions in West Asia are making things tough for India's economy, according to a new NITI Aayog report.
The unrest is widening India's current account deficit and putting pressure on the rupee.
It has also slowed trade talks with Gulf countries, slowing down efforts to diversify trade.
Still, India's overall trade has stayed surprisingly strong through it all.
NITI Aayog urges high value exports
NITI Aayog suggests India should double down on high-value exports and creative manufacturing, especially in gems and jewelry.
It also recommends making free trade agreements work better and giving small businesses easier access to loans.
Even with global challenges, during April-December of FY 2025-26, India's trade grew 5.3% year-on-year to $1.37 trillion.