Imports are coming down, helping the trade deficit to fall “significantly”, Rao said.

Rao also said the government will decide on steps to boost jewelery exports by October-end.

India‘s trade deficit narrowed to $10.9 billion in August, helped by a double-digit rise in merchandise exports, provisional government data showed.

India‘s current account deficit, which hit a record high in the last fiscal year, is expected to rise in the June quarter from the previous three-month period before easing due to sharp fall in gold imports and improving exports. (Reuters)