View: And you thought last quarter's huge current account surplus was a boon for India?

It was the collapse of domestic demand that led to India’s record current account surplus in April-June. It did not reflect improved Indian competitiveness. The saving grace is that the export of services (like computer software and call centres) mostly held up. Remittances from abroad also slipped but not as badly as during the oil price fall in 2015-16.

from Economy-News-Economic Times https://ift.tt/36uA2P3
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