Rupee, CAD under watch, US trade talks on track: Goyal says India will 'come out winner'

Key points

• Union commerce and industry minister Piyush Goyal on Thursday addressed concerns around the rupee’s decline, the widening current account deficit (CAD), and shared updates on the progress of the proposed US-India trade deal.Goyal said the Centre was actively considering several measures to contain further pressure on the CAD, while stressing that different arms of the government were working in coordination to navigate challenging global economic conditions.“We are monitoring the situation.
• All the various arms of government are working as a team.
• Several steps are under consideration.
• The situation is globally quite challenging, but we have the confidence and the courage of conviction that we'll come out winners even in this challenging time...” Goyal said.According to RBI data released on March 2, India’s current account deficit widened to $13.2 billion, or 1.3% of GDP, in the December quarter, compared with $11.3 billion in the same period a year earlier.
• The increase...