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Economy reverting back to pre-COVID levels, not right to read November trade data as trend: Former commerce secretary

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On trade deficit, he said that November has generally been the worse in terms in past 5 years and so it's not right to read November trade data as a trend. 

Indian economy is reverting back to pre-COVID levels, said a former commerce secretary Anup Wadhawan in an exclusive conversation with CNBC-TV18.
"We have a long-term structural worry of low manufacturing but I don't see a major structural worry in the short-term," he said.
"Pent up demand is being met in some sectors such as gems and jewellery," he added.
On trade deficit, he said that November has generally been the worse in terms in past 5 years and so it's not right to read November trade data as a trend.
"Also, it's difficult to compare MoM data due to seasonality," he said.
Talking further, Pranjul Bhandari of HSBC said that a long-term trend is being noticed. She added that she is hoping the trend on trade deficit not to continue.
"I hope good imports could reduce as utilisation of services rise," Bhandari said while talking to CNBC-TV18.
For the entire discussion, watch the accompanying video.
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