ET decodes the ABCD of forex management

Duties on precious metals went up today, and the government is considering higher duties on ‘non-essentials’. Whether or not this is the right policy, forex spend on some ‘non-essentials’ make for fascinating reading.


We spent over Rs 8,000 cr of foreign exchange on just apples, booze, cashews and dolls in 2012-13.

ET decodes the ABCD of the unusual items India spends its hard-earned foreign currency on: