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India's FY24 CAD reduces to 0.7% of GDP from 2% in FY23, records surplus of 0.6% in Q4
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trade deficit, the Reserve Bank of India said on Monday.
Foreign portfolio investment saw a net inflow of $44.1 billion in FY24 after recording an outflow of $5.2 billion in FY23. Meanwhile, net FDI inflow reduced to $9.8 billion in FY24, down from $28 billion seen in FY23.
India's foreign exchange reserves saw an accretion of $63.7 billion in FY24 on a Balance of Payment basis, the RBI said in its statement.
The south Asian country reported a current account surplus of 0.6 per cent of GDP in the final quarter of FY24, up from a deficit of 1 per cent of GDP in Q3FY24 and 0.2 per cent of GDP in Q4FY23. Merchandise trade deficit in Q4 stood at $50.9 billion, lower than $52.6 billion seen in Q4FY23.
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