Current account and capital flows · India
India External Debt
The India External Debt measures money flowing between India and the rest of the world: trade, income and transfers (current account), or investment in and out of the country.
- Importance
- Low
- Released
- Quarterly
- Next release
- Currency
- INR · Indian rupee
- Central bank
- The Reserve Bank of India
Latest figures
The latest release for Q2, published on 30 September 2026, came in at $778.2B.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 30 Sep 2026 | Q2 | $778.2B | – | $762.8B |
| 29 Jun 2026 | Q1 | $762.8B | – | $765.5B |
| 30 Mar 2026 | Q4 | $765.5B | – | $746B |
| 30 Dec 2025 | Q3 | $746B | – | $747.2B |
| 30 Sep 2025 | Q2 | $747.2B | – | $736.3B |
| 27 Jun 2025 | Q1 | $736.3B | – | $717.9B |
| 28 Mar 2025 | Q4 | $717.9B | – | $711.8B |
Why it matters
A current-account deficit must be financed by foreign capital, which makes a currency vulnerable when investors turn cautious; a surplus country lends to the world. Capital-flow data show whether foreigners are buying the country's bonds and shares. Tourism and remittances are large sources of foreign currency for some economies.
How it is calculated
The balance of payments records every transaction with non-residents: goods, services, income, transfers (current account) and investment (financial account); the two mirror each other.
Current account = trade balance + primary income + secondary income
Current account + capital account + financial account ≈ 0What changes mean
- A deficit above about 4–5% of GDP is often seen as a risk for emerging-market currencies.
- Large foreign purchases of local bonds support the currency.
Higher than expected: A larger surplus or stronger inflows than expected tend to support the Indian rupee.
Lower than expected: A larger deficit or weaker inflows than expected tend to weigh on the Indian rupee.
A short history
Balance-of-payments accounting was standardised by the International Monetary Fund after 1945; current-account crises shaped events from the 1990s emerging-market crises to the euro debt crisis.
Questions
What is the India External Debt?
The India External Debt measures money flowing between India and the rest of the world: trade, income and transfers (current account), or investment in and out of the country.
What was the latest India External Debt?
$778.2B for Q2, published on 30 September 2026.
When is the next India External Debt?
On Thursday 31 December 2026 at 12:00 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.