Indian Finance Minister P. Chidambaram acknowledged the problematic nature of India's current-account deficit and said the only viable answer is to boost exports. "It has become a serious issue because imports are rising faster than exports. And the gap has to be financed through invisibles and capital account ... but to do that year after year is a challenge. Long-term answer to the [current-account deficit] is to improve the exports," Chidambaram said in an interview.
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