India reports surprise balance of payments surplus
India achieved a current account surplus of 7.1 billion dollars in the January to March quarter driven by strong services exports and increased worker remittances. Despite the quarterly gain, economists expect the current account deficit to widen in the coming year due to rising global energy costs.
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India reported a surprise current account surplus of $7.1 billion in the January-March quarter of fiscal 2026. The figure represents 0.7% of GDP and reverses a $13.2 billion deficit recorded in the previous three-month period. Strong services exports and central bank currency swaps provided a critical buffer against a widening merchandise trade gap.
