Home / Knowledge / News / Textiles / India's current account deficit narrows to 1.6% of GDP
India's current account deficit narrows to 1.6% of GDP
23
Dec '15
India's current account deficit narrowed to 1.6 per cent of GDP at $8.2 billion in the second quarter ended September, mainly due to lower trade deficit. The July-September CAD is lower than $10.9 billion, or 2.2 per cent of GDP, in the same quarter of last fiscal, according to an agency report quoting the Reserve Bank of India's (RBI) second quarterly balance of payments data.

But it is higher than 1.2 per cent for the previous quarter of current fiscal. The contraction in CAD was primarily on account of lower trade deficit ($37.4 billion) as compared with $39.7 billion in Q2 of last year though it was higher than the level in the preceding quarter ($34.2 billion), according to the RBI data.

Although net services receipts moderated marginally on a annual basis largely due to fall in export receipts in transport, insurance and pension services, there has been some improvement over the preceding quarter, it said.

The data reveals that after a sharp pick up in the first quarter, net foreign direct investment (FDI) moderated in second quarter of 2015-16. Net FDI inflows during first half of current fiscal rose by more than 10 per cent over the level during the corresponding period of the previous year.

During the first 6 months of the current fiscal, the CAD narrowed to 1.4 per cent of GDP from 1.8 per cent in the same period a year ago on contraction in the trade deficit and a marginal improvement in net invisibles. India's trade deficit narrowed to $71.6 billion in the first half from $74.7 billion in the same period previous fiscal. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Information Technology | On 28th Mar 2017

Intex Consulting signs partnership with Kawan Era Baru

Germany based Intex Consulting GmbH has entered into a strategic...

Courtesy: Kraig Laboratories

Textiles | On 28th Mar 2017

Kraig gets certificate for silk production in Vietnam

Kraig Biocraft Laboratories, Inc., a leading biotechnology company...

Courtesy: Creora

Textiles | On 28th Mar 2017

Hyosung holds Creora workshops in China, HK & Taiwan

South Korean specialty fibre producer Hyosung held a series of...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search