India consolidated trade Deficit till March was a wonderful $20.5 B and Balance of Payments a deficit of $5 B thought he numbers were a sharp contract moving for the worse from 2011 Jan – March when the deficit was less than $15 B and BOP a surplus of $2 B. Service tax collections were up for the same quarter. As of now Gold and Silver are weak for the stronger Rupee and exports in Gems and KJewelry have been affected in the first quarter
The June exports have ticked down yet are up from May at $25.6B. The Deficit is $16.3B and thus Imports are still $42 B and crude is moving up again. Go figure ho we ill benefit fromt he rupee boom, which we will by a stronger rupee
Despite the shadow of larger corruption and statist intervention (of the variety that hurts, the regimes not having ever tested communism and extra controlled state) Indonesia and Malaysia have also improved trade. Indonesian trade data depicts deficit of -0.5% and inflation below 5% and a currency which will go up as the Dolla rindex fills in with sand and retreats
Indian PMI for June also improved to 55, the mark of a turnaround. India revenue receipts are don dangerously so a move to make duties palatable. and bring back banished exports.