India’s current account gap narrows to 1% of GDP in Q2 FY24 – cenbank

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.