I have commented on India’s imports, exports, and foreign-exchange reserves, distinguishing a quoted claim about falling reserves from my explanation of how trade flows can contribute to reserve accumulation. This connects with india s trade deficit and outlook.
On 2022-10-22, I reported that India’s foreign-exchange reserves had fallen from around $641 billion to $532 billion in the last 12 months; the post did not specify the exact dates for those figures.
In a reply quoting @nikhilkamathcio, I explained that a country accumulates foreign-exchange reserves when revenue from exports exceeds expenditure on imports. The quoted claim about India’s reserves belongs to @nikhilkamathcio, not to me.
I said, “China is India’s biggest import destination; the USA is the country India exports to the most.” I also asked whether India could reverse the trend of falling reserves, but did not give an answer or figures for the decline in this post.
I said crude, other mineral fuels, and waxes constitute 27% of our total imports; the post gave no source or calculation for this figure.