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India may have achieved current account surplus, say experts
India may have achieved current account surplus, say experts
India's current account balance likely moved to a surplus in the quarter ending March, thanks to a weakening of commodity prices, rising remittances, and strong services exports. It's the country's first such surplus in six quarters and has been attributed to a shrinking of India's external financing needs, with Barclays' Rahul Bajoria suggesting a Q4 surplus and India Ratings and Research (Ind-Ra) forecasting a current account surplus of $6bn, or 0.7% of the GDP. Experts believe the surplus will continue into this quarter, thanks in part to buoyant services exports.
India's current account balance likely moved to a surplus in the quarter ending March, thanks to a weakening of commodity prices, rising remittances, and strong services exports. It's the country's first such surplus in six quarters and has been attributed to a shrinking of India's external financing needs, with Barclays' Rahul Bajoria suggesting a Q4 surplus and India Ratings and Research (Ind-Ra) forecasting a current account surplus of $6bn, or 0.7% of the GDP. Experts believe the surplus will continue into this quarter, thanks in part to buoyant services exports.
India's current account balance likely moved to a surplus in the quarter ending March, thanks to a weakening of commodity prices, rising remittances, and strong services exports. It's the country's first such surplus in six quarters and has been attributed to a shrinking of India's external financing needs, with Barclays' Rahul Bajoria suggesting a Q4 surplus and India Ratings and Research (Ind-Ra) forecasting a current account surplus of $6bn, or 0.7% of the GDP. Experts believe the surplus will continue into this quarter, thanks in part to buoyant services exports. 
