Business Recorder

India reports surprise current account surplus in Jan-March quarter

MUMBAI: India reported a surprise current account surplus in the January-March quarter of fiscal 2025/26 on the back of strong earnings from the services sector and an increase in worker remittances, the central bank said on Monday. The current account surplus stood at $7.1 billion, or 0.7% of GDP, in the final quarter of fiscal year 2025-26, compared with $13.7 billion, or 1.4% of GDP, a year earlier. In the October-December period, India had reported a current account deficit of $13.2 billion or 1.3% of GDP. For the full financial year 2025-26, the current account deficit stood at $25.2 billion or 0.6% of GDP. India’s balance of payments recorded a surplus of $7.2 billion in the fourth quarter of the financial year. For the full year, the balance of payments was in a deficit of $23.6 billion.