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India-UAE trade gap falls to 3-year low as oil imports slump

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India-UAE trade gap falls to 3-year low as oil imports slump

This story was originally published at 17:12 IST on May 2, 2024  Back
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By Krity Ambey

India's trade deficit with the United Arab Emirates fell to a three-year low in the year ended March due to a sharp decline in crude oil imports from the Gulf nation, according to provisional data sourced from the commerce and industry ministry. India’s trade deficit with the UAE narrowed to $12.39 bln in 2023-24 (Apr-Mar) from $21.62 bln a year ago.

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