India’s current account deficit (CAD) of $36.4 billion in July-September of the current fiscal (Q2 FY23) is double of $18.2 billion (2.2% of GDP) from Q1 of the fiscal. Negative CAD implies India is importing more goods and services than it is exporting, resulting in forex outgo.

Follow us on Facebook, X, YouTube, Instagram and WhatsApp to never miss an update from Fortune India. To buy a copy, visit Amazon.