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$41 bn deficit a drag on India

India is the only country among the BRIC economies to have trade deficit in 2005, the Rajya Sabha was informed on May 17.

"According to WTO data for 2005, among the group of four countries that is Brazil, India, China and Russia, India is the only country which has trade deficit," Minister of State for Commerce Jairam Ramesh said in a written reply.

India's deficit stood at $41.8 billion in 2005 according to World Trade Organisation data, while Brazil had a surplus of $40.7 billion.

China's trade balance was also in surplus at $101.9 billion, while the Russian Federation had the highest at $120.2 billion.



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