India's current account deficit touched a record high of 6.7 per cent of GDP in the October-December quarter, mainly on account of widening trade gap.

The CAD, which is the difference between inflow and outflow of foreign currency, "widened from 5.4 per cent in Q2 (July-September) to a record high of 6.7 per cent of GDP in Q3, driven mainly by large trade deficit" RBI said in its report on Balance of Payments.

The report said while the merchandise exports did not show any significant growth during the third quarter ending December 2012, the imports shot up by 9.4 per cent, spurred largely by oil and gold imports. The trade deficit, RBI said, widened to $59.6 billion in third quarter, up from $48.6 billion in the corresponding quarter a year ago.