India flips to a $2 bn current‑account deficit in May, erasing April surplus
In May 2026 India recorded a $2 bn current‑account deficit, a swing from a $4.7 bn surplus in April, driven by a $27.9 bn merchandise deficit that eclipsed a $15.7 bn services surplus. The capital account gap narrowed as foreign portfolio outflows fell to $4.7 bn, but net foreign direct investment turned negative.