
An Indian shopkeeper arranges gold bangles in a Delhi store
India has pledged to do whatever necessary to tackle its current-account deficit, after heavy oil and gold imports combined with muted exports to drive the gap to a record high.
In a worse-than-expected reading that will keep the rupee currency under pressure, the deficit hit $32.6bn (£21.5bn) in the final three months of 2012, compared with $22.3bn in the September quarter. For April-December,...