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India Spending Too Much Forex On Travel, Tech, Coal: Nilesh Shah

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August 13: The last few months saw $10 billion in outflows and experts are questioning whether we will come close to the $25 billion needed to fund the current account deficit. Nilesh Shah of Axis Direct says India spends too much forex on travel, technology and coal. “If India can tackle core CAD issues, reevaluate its spending and control its trade deficit with China, we can be a current account surplus country,” he adds.