Fitch affirms 'BBB-' rating to India with 'stable' outlook
India will be one of the fastest-growing Fitch-rated sovereigns globally at 6% in FY24, supported by resilient investment prospects, says the American ratings agency
current account deficit
May 2023
April 2023
January 2023
December 2022
November 2022
October 2022
Gold imports dip 24% to $35 bn in FY23
Experts have cited high import duty for the dip in imports of yellow metal; WGC sees a healthy upside for investment in 2023
India's merchandise exports rise to $447 bn in FY23
Merchandise exports dropped 13.9% year-on-year to $38.38 billion in March while imports fell 7.9% year-on-year to $58.11 billion.
Economic Survey 2023: India's CAD within manageable limits
The CAD stands for the measurement of any country’s trade when the value of the goods and services imported exceeds the value of goods and services exported.
Budget 2023: Current account deficit widens to $36bn; 4.4% of GDP
The current account deficit (CAD) widened to $36.4 billion in Q2 FY23, from $18.2 billion in Q1 of the fiscal.
India’s CAD widens to record 4.4% of GDP in Q2 FY23
RBI says $30.4 bn worth of foreign exchange reserves were depleted in Q2 vs an accretion of $31.2 bn a year before. FDI inflows at $20 bn in H1 marginally declined from $20.3 billion a year before.
Current account deficit at 37-quarter high of 4.4% of GDP in Q2: Report
Global headwinds facing merchandise exports can be gauged from the fact that goods exports tumbled in October 2022, first time after February 2021, Ind-Ra says.
RBI to hike repo rate by 50 bps in December: Goldman Sachs
This will be followed by a 35 bps rate hike in February 2023 which would take the key policy rate to a peak of 6.75%, says Goldman Sachs.
Rupee’s fall to 83: What does it say about India’s fundamentals?
Except for sound forex reserve and external debt, other indicators like weak and K-shaped recovery, high fiscal deficits, high trade and current account deficits point to a prolonged crisis.
Falling forex reserves, rising CAD may shake India's sovereign ratings: S&P
The fall in its forex reserves to around $533 billion currently, from a peak of about $634 billion in 2021, is driven in part by India's growing current account deficit, says S&P.
