India logs current account surplus of $4.7 billion in April on strong services exports: RBI

Reserve Bank of India (RBI) in its preliminary data on India's Balance of Payments (BoP) has showed that India logged a current account surplus of $4.7 billion in April 2026, a sharp turnaround from the deficit of $4.8 billion recorded in the year-ago month.

The turnaround was primarily driven by stronger services exports and a sharp increase in net transfer receipts.

According to the data, the imports bill climbed to $72.5 billion in April from $65.8 billion in the same month last year, while exports expanded to $44.6 billion in April from $38.7 billion a year earlier. The merchandise trade deficit stood at $27.9 billion in April 2026, marginally higher than $27.1 billion in April 2025.

Net services receipts expanded to $18.6 billion during April 2026 from $15.9 billion a year earlier, with services exports at $37 billion and services imports at $18.4 billion. Net transfers increased to $16 billion in April 2026 from $9.4 billion a year earlier.

On the capital account, India saw a net outflow of $11.3 billion in April 2026 as against a net inflow of $5.3 billion in the corresponding month last year.

Net foreign direct investment (FDI) rose to $7.4 billion in April from $1.6 billion a year ago. Foreign portfolio investment (FPI) recorded a net outflow of $8.7 billion during April 2026.

The overall Balance of Payments registered a deficit of $6.6 billion in April 2026, against a surplus of $0.5 billion in April 2025.