Imports slumped more than 25 per cent to 54 metric tons in June from a year earlier, a person familiar with the information said, asking not to be identified as the figures aren’t public. Overseas purchases plunged 40 per cent to 343 tons in the first half from a year ago, according to data from Finance Ministry officials compiled by Bloomberg.
Buying has been poor as the rupee extended its slump to a record low last month, making prices of overseas goods more expensive. Rural demand has suffered as farmers typically slow purchases from June to August because they are