Developments in India’s Balance of Payments for July 2026
RBI press-release 2026-2027/1118 · 15 Sept 2026
Official title
Developments in India’s Balance of Payments for the Month of July 2026
RBI press-release 2026-2027/1118 · 15 Sept 2026
Official title
Developments in India’s Balance of Payments for the Month of July 2026
Summary
Check the official recordThe Reserve Bank of India releases preliminary balance of payments data for July 2026. The current account records a net deficit of US$ 7.0 billion for the month. This compares to a net deficit of US$ 3.2 billion in July 2025. The capital account records a net surplus of US$ 27.7 billion for July 2026. This compares to a net surplus of US$ 3.5 billion in July 2025. The overall balance for July 2026 shows a surplus of US$ 20.8 billion. The data includes figures for merchandise, services, transfers, and income. It also includes capital account components such as foreign direct investment and foreign portfolio investment.
Key dates
Who is affected
September 15, 2026
Developments in India’s Balance of Payments for the Month of July 2026
Preliminary data on India’s balance of payments (BoP) for July 2026 are presented in the following table.
Major Items of India's Balance of Payments
(US$ billion)
| Item | July 2025 PR | July 2026 P | April-July 2025 PR | April-July 2026 P |
|---|---|---|---|---|
| A. Current Account (Net) [A.1 to A.4] | -3.2 | -7.0 | -6.6 | -11.2 |
| A.1 Merchandise (Net) [a-b] | -28.2 | -31.7 | -97.1 | -117.8 |
| a. Exports | 37.4 | 45.1 | 150.0 | 177.1 |
| b. Imports | 65.6 | 76.8 | 247.1 | 294.9 |
| A.2 Services (Net) [a-b] | 16.4 | 17.6 | 64.3 | 69.3 |
| a. Exports | 33.7 | 38.3 | 131.2 | 144.5 |
| b. Imports | 17.3 | 20.6 | 66.8 | 75.2 |
| A.3 Transfers (Net) | 12.6 | 13.2 | 43.4 | 53.9 |
| A.4 Income (Net) | -4.0 | -6.1 | -17.3 | -16.6 |
| B. Capital Account (Net) [B.1 to B.6] | 3.5 | 27.7 | 11.4 | 23.9 |
| B.1 Foreign Direct Investment (Net) [a-b] | 4.5 | 7.3 | 9.7 | 13.4 |
| a. In India (Net) | 7.2 | 10.7 | 21.6 | 26.3 |
| b. Abroad (Net) | 2.7 | 3.4 | 11.9 | 12.8 |
| B.2 Foreign Portfolio Investment (Net) [a-b] | -2.5 | 4.1 | -0.9 | -5.5 |
| a. In India (Net) | -2.4 | 4.4 | 0.04 | -4.3 |
| b. Abroad (Net) | 0.1 | 0.3 | 1.0 | 1.2 |
| B.3 External Commercial Borrowings (Net) [a-b] | 1.4 | -2.3 | 6.8 | -1.3 |
| a. To India (Net) | 0.8 | 2.5 | 5.3 | 5.8 |
| b. By India (Net) | -0.5 | 4.8 | -1.6 | 7.0 |
| B.4 Short-term Credit to India (Net) | 1.2 | 1.8 | 1.1 | 5.4 |
| B.5 Banking Capital (Net) | 6.0 | 18.4 | 4.4 | 21.1 |
| of which: NRI Deposits (Net) | 1.0 | 33.5 | 4.7 | 36.2 |
| B.6 Other Capital (Net) | -7.0 | -1.6 | -9.7 | -9.3 |
| C. Overall Balance (A+B) | 0.3 | 20.8 | 4.8 | 12.7 |
| D. Monetary Movements [‘-’ : Increase ; ‘+’ : Decrease] | -0.3 | -20.8 | -4.8 | -12.7 |
PR: Partially Revised; and P: Preliminary.
Note: 1. Errors and omissions are included under ‘Other Capital’.
2. Total of sub-components may not tally with aggregate due to rounding off.
(Brij Raj)
Chief General Manager
Press Release: 2026-2027/1118
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