India’s current account deficit likely to widen, but gradually

India’s current account deficit fell to its lowest level in five years last quarter. Looking ahead, the deficit looks set to widen as imports are likely to rise on the back of an economic recovery and a recent easing of gold import curbs. Nonetheless, any widening will be gradual as we expect India’s recovery to be subdued and for any further easing of gold curbs to be done cautiously.

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