MUMBAI (Reuters) – India’s current account deficit narrowed in the July-September quarter largely due to a lower merchandise trade deficit while services exports also grew, the central bank said on Tuesday.
The current account deficit stood at $8.3 billion, or 1% of GDP, in the second quarter of fiscal 2023/24 compared with $9.2 billion or 1.1% of GDP in the preceding quarter. The CAD stood at $30.9 billion or 3.8% in the same quarter a year ago.
(Reporting by Swati Bhat; editing by Sudipto Ganguly)
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