| (US$ Million) |
| Item/Year | 2020-21 | 2021-22 | 2022-23 |
| Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| A. Current account | | | | | | | | | |
| 1. Merchandise | 296300 | 398452 | -102152 | 429164 | 618623 | -189459 | 456073 | 721364 | -265291 |
| 2. Invisibles (a+b+c) | 307253 | 181188 | 126065 | 369600 | 218906 | 150694 | 465804 | 267568 | 198236 |
| a) Services | 206090 | 117524 | 88565 | 254527 | 147011 | 107516 | 325329 | 182046 | 143283 |
| i) Travel | 8483 | 11507 | -3024 | 9099 | 16272 | -7173 | 27049 | 28447 | -1398 |
| ii) Transportation | 21854 | 19755 | 2099 | 32660 | 35836 | -3177 | 36091 | 40617 | -4526 |
| iii) Insurance | 2376 | 2058 | 318 | 3316 | 2076 | 1241 | 3277 | 2347 | 930 |
| iv) G.n.i.e. | 630 | 1021 | -392 | 803 | 968 | -165 | 683 | 1015 | -332 |
| v) Miscellaneous | 172746 | 83182 | 89564 | 208649 | 91859 | 116790 | 258229 | 109620 | 148609 |
| of which : Software services | 99997 | 10257 | 89741 | 122093 | 12554 | 109540 | 146775 | 15491 | 131284 |
| Business services | 49161 | 49522 | -361 | 58967 | 51681 | 7286 | 80350 | 59706 | 20644 |
| Financial services | 4338 | 4763 | -424 | 5472 | 5620 | -147 | 7815 | 5708 | 2106 |
| Communication services | 2801 | 1438 | 1363 | 3137 | 1130 | 2007 | 5164 | 3384 | 1780 |
| b) Transfers | 80328 | 6868 | 73460 | 89322 | 8875 | 80447 | 112630 | 11753 | 100877 |
| i) Official | 143 | 1122 | -979 | 195 | 978 | -783 | 165 | 1064 | -900 |
| ii) Private | 80185 | 5746 | 74439 | 89127 | 7898 | 81230 | 112465 | 10689 | 101776 |
| c) Income | 20835 | 56796 | -35960 | 25751 | 63020 | -37269 | 27845 | 73769 | -45923 |
| i) Investment income | 14840 | 53993 | -39154 | 19391 | 59957 | -40565 | 21114 | 70348 | -49235 |
| ii) Compensation of employees | 5996 | 2802 | 3193 | 6360 | 3063 | 3296 | 6732 | 3421 | 3311 |
| Total Current account (1+2) | 603553 | 579640 | 23912 | 798764 | 837529 | -38766 | 921877 | 988932 | -67055 |
| B. Capital account | | | | | | | | | |
| 1. Foreign investment (a+b) | 400001 | 319909 | 80092 | 478000 | 456191 | 21809 | 385089 | 362255 | 22834 |
| a) Foreign direct investment (i+ii) | 86286 | 42330 | 43955 | 88235 | 49649 | 38587 | 75232 | 47246 | 27986 |
| i) In India | 81973 | 27046 | 54927 | 84835 | 28605 | 56231 | 71355 | 29349 | 42006 |
| Equity | 61088 | 26983 | 34105 | 59684 | 27189 | 32495 | 47600 | 27094 | 20506 |
| Reinvested earnings | 16935 | 0 | 16935 | 19347 | 0 | 19347 | 19105 | 0 | 19105 |
| Other Capital | 3950 | 63 | 3887 | 5805 | 1416 | 4389 | 4650 | 2255 | 2395 |
| ii) Abroad | 4313 | 15285 | -10972 | 3400 | 21044 | -17644 | 3877 | 17897 | -14020 |
| Equity | 4313 | 5583 | -1271 | 3400 | 10061 | -6661 | 3877 | 8771 | -4894 |
| Reinvested earnings | 0 | 3013 | -3013 | 0 | 3379 | -3379 | 0 | 4412 | -4412 |
| Other capital | 0 | 6688 | -6688 | 0 | 7604 | -7604 | 0 | 4714 | -4714 |
| b) Portfolio investment | 313715 | 277579 | 36137 | 389764 | 406542 | -16777 | 309857 | 315009 | -5152 |
| i) In India | 312005 | 273279 | 38725 | 385710 | 399781 | -14071 | 307473 | 312301 | -4828 |
| FIIs | 312005 | 273279 | 38725 | 385710 | 399781 | -14071 | 307473 | 312301 | -4828 |
| of which: | | | | | | | | | |
| Equity | 269762 | 230937 | 38825 | 343081 | 358702 | -15621 | 273934 | 279906 | -5972 |
| Debt | 42243 | 42342 | -99 | 42629 | 41079 | 1550 | 33539 | 32395 | 1144 |
| GDRs/ADRs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ii) Abroad | 1711 | 4299 | -2589 | 4054 | 6761 | -2706 | 2384 | 2708 | -324 |
| 2. Loans (a+b+c) | 85650 | 78747 | 6903 | 105457 | 71851 | 33605 | 100598 | 92329 | 8269 |
| a) External assistance | 16898 | 5731 | 11167 | 10990 | 5625 | 5366 | 11574 | 6053 | 5521 |
| i) By India | 38 | 82 | -44 | 51 | 65 | -14 | 31 | 90 | -58 |
| ii) To India | 16860 | 5649 | 11211 | 10940 | 5560 | 5379 | 11542 | 5963 | 5579 |
| b) Commercial borrowings | 31388 | 31522 | -134 | 30110 | 21975 | 8135 | 20695 | 24485 | -3790 |
| i) By India | 2863 | 3237 | -374 | 1884 | 1156 | 728 | 1285 | 936 | 349 |
| ii) To India | 28525 | 28285 | 240 | 28226 | 20819 | 7407 | 19410 | 23549 | -4139 |
| c) Short term to India | 37365 | 41494 | -4130 | 64356 | 44252 | 20105 | 68330 | 61791 | 6539 |
| i) Suppliers’ Credit & Buyers’ Credit >180 days | 35284 | 39984 | -4700 | 45447 | 44252 | 1196 | 68330 | 55626 | 12704 |
| ii) Suppliers’ credit up to 180 days | 2080 | 1510 | 570 | 18909 | 0 | 18909 | 0 | 6165 | -6165 |
| 3. Banking capital (a+b) | 74284 | 95351 | -21067 | 102886 | 96217 | 6669 | 129368 | 108388 | 20980 |
| a) Commercial Banks | 73662 | 94583 | -20921 | 102497 | 95386 | 7111 | 129293 | 107726 | 21566 |
| i) Assets | 23603 | 44975 | -21372 | 50645 | 48592 | 2053 | 58387 | 46417 | 11970 |
| ii) Liabilities | 50059 | 49608 | 451 | 51851 | 46794 | 5058 | 70906 | 61309 | 9596 |
| of which: Non-Resident Deposits | 46465 | 39101 | 7364 | 45395 | 42161 | 3234 | 64274 | 55285 | 8989 |
| b) Others | 621 | 767 | -146 | 390 | 831 | -441 | 75 | 661 | -586 |
| 4. Rupee debt service | 0 | 64 | -64 | 0 | 71 | -71 | 0 | 68 | -68 |
| 5. Other capital | 39090 | 41233 | -2143 | 75059 | 51265 | 23794 | 57499 | 50571 | 6928 |
| Total capital account (1 to 5) | 599025 | 535304 | 63721 | 761402 | 675595 | 85807 | 672554 | 613611 | 58943 |
| C. Errors & omissions | 951 | 1298 | -347 | 1433 | 974 | 459 | 900 | 1924 | -1024 |
| D. Overall balance (A+B+C) | 1203529 | 1116242 | 87286 | 1561599 | 1514098 | 47501 | 1595331 | 1604466 | -9135 |
| E. Monetary movements (i+ii) | 0 | 87286 | -87286 | 16024 | 63524 | -47501 | 30379 | 21244 | 9135 |
| i) I.M.F. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ii) Foreign exchange reserves (Increase- / Decrease+) | 0 | 87286 | -87286 | 16024 | 63524 | -47501 | 30379 | 21244 | 9135 |
| of which: SDR Allocation | - | - | - | 0 | 17862 | -17862 | - | - | - |
| (Continued) |
| TABLE 124 : INDIA’S OVERALL BALANCE OF PAYMENTSUS DOLLAR (Concld.) |
| (US$ Million) |
| Item/Year | 2023-24 | 2024-25 | 2025-26 |
| Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net |
| 1 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 |
| A. Current account | | | | | | | | | |
| 1. Merchandise | 441443 | 686354 | -244911 | 442082 | 729028 | -286947 | 446147 | 783435 | -337288 |
| 2. Invisibles (a+b+c) | 501417 | 282617 | 218800 | 576548 | 312661 | 263887 | 631629 | 319706 | 311923 |
| a) Services | 341062 | 178311 | 162752 | 387553 | 198717 | 188836 | 421292 | 204678 | 216615 |
| i) Travel | 33704 | 33701 | 4 | 34152 | 34843 | -691 | 31880 | 35768 | -3888 |
| ii) Transportation | 29183 | 29256 | -72 | 33759 | 35029 | -1270 | 31887 | 33605 | -1718 |
| iii) Insurance | 3326 | 2917 | 408 | 3565 | 3035 | 529 | 3710 | 2685 | 1025 |
| iv) G.n.i.e. | 609 | 1088 | -479 | 641 | 1261 | -620 | 626 | 1281 | -655 |
| v) Miscellaneous | 274239 | 111349 | 162891 | 315437 | 124548 | 190888 | 353188 | 131339 | 221849 |
| of which : Software services | 160333 | 18259 | 142074 | 180626 | 21013 | 159612 | 203675 | 24166 | 179508 |
| Business services | 88570 | 59331 | 29239 | 107212 | 66646 | 40566 | 124179 | 69585 | 54594 |
| Financial services | 8051 | 4560 | 3491 | 8480 | 4068 | 4412 | 7551 | 3015 | 4536 |
| Communication services | 2916 | 1592 | 1325 | 2348 | 2091 | 258 | 2467 | 2067 | 400 |
| b) Transfers | 118900 | 13115 | 105785 | 135593 | 12202 | 123391 | 155310 | 11794 | 143516 |
| i) Official | 188 | 1034 | -846 | 167 | 1332 | -1165 | 189 | 1467 | -1278 |
| ii) Private | 118712 | 12081 | 106631 | 135426 | 10870 | 124556 | 155120 | 10326 | 144794 |
| c) Income | 41455 | 91191 | -49736 | 53402 | 101742 | -48340 | 55027 | 103235 | -48208 |
| i) Investment income | 33926 | 87491 | -53565 | 45063 | 97663 | -52600 | 46420 | 98791 | -52371 |
| ii) Compensation of employees | 7529 | 3700 | 3829 | 8339 | 4079 | 4261 | 8608 | 4444 | 4163 |
| Total Current account (1+2) | 942860 | 968971 | -26111 | 1018629 | 1041689 | -23060 | 1077777 | 1103141 | -25365 |
| B. Capital account | | | | | | | | | |
| 1. Foreign investment (a+b) | 541041 | 486808 | 54233 | 723525 | 719002 | 4523 | 692012 | 701428 | -9416 |
| a) Foreign direct investment (i+ii) | 74926 | 64774 | 10152 | 84190 | 83232 | 959 | 98325 | 91377 | 6947 |
| i) In India | 71302 | 44472 | 26830 | 80615 | 51486 | 29130 | 94836 | 54044 | 40791 |
| Equity | 45817 | 41334 | 4483 | 50993 | 49525 | 1468 | 62282 | 51186 | 11096 |
| Reinvested earnings | 19768 | 0 | 19768 | 22759 | 0 | 22759 | 25651 | 0 | 25651 |
| Other Capital | 5716 | 3137 | 2579 | 6863 | 1960 | 4903 | 6902 | 2858 | 4044 |
| ii) Abroad | 3624 | 20302 | -16678 | 3575 | 31746 | -28171 | 3489 | 37333 | -33844 |
| Equity | 3624 | 9111 | -5487 | 3575 | 16945 | -13370 | 3489 | 21182 | -17693 |
| Reinvested earnings | 0 | 5786 | -5786 | 0 | 6846 | -6846 | 0 | 7805 | -7805 |
| Other capital | 0 | 5406 | -5406 | 0 | 7955 | -7955 | 0 | 8345 | -8345 |
| b) Portfolio investment | 466115 | 422034 | 44081 | 639334 | 635770 | 3564 | 593688 | 610051 | -16363 |
| i) In India | 462573 | 417947 | 44626 | 636263 | 632980 | 3283 | 588752 | 603946 | -15194 |
| FIIs | 462573 | 417947 | 44626 | 636263 | 632980 | 3283 | 588752 | 603946 | -15194 |
| of which: | | | | | | | | | |
| Equity | 408272 | 383004 | 25268 | 546592 | 562319 | -15727 | 503600 | 522239 | -18639 |
| Debt | 54300 | 34942 | 19358 | 89671 | 70660 | 19010 | 85152 | 81707 | 3445 |
| GDRs/ADRs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ii) Abroad | 3543 | 4087 | -544 | 3072 | 2790 | 281 | 4935 | 6105 | -1170 |
| 2. Loans (a+b+c) | 117329 | 110788 | 6541 | 172011 | 142686 | 29325 | 707180 | 679761 | 27419 |
| a) External assistance | 13825 | 6365 | 7460 | 14033 | 7775 | 6258 | 11604 | 9043 | 2562 |
| i) By India | 34 | 177 | -143 | 24 | 103 | -78 | 23 | 39 | -15 |
| ii) To India | 13791 | 6188 | 7603 | 14009 | 7672 | 6337 | 11581 | 9004 | 2577 |
| b) Commercial borrowings | 44653 | 44739 | -86 | 89968 | 74056 | 15912 | 620122 | 609008 | 11114 |
| i) By India | 11178 | 14808 | -3630 | 41959 | 44544 | -2586 | 584467 | 587517 | -3050 |
| ii) To India | 33476 | 29931 | 3545 | 48010 | 29512 | 18498 | 35655 | 21491 | 14164 |
| c) Short term to India | 58851 | 59684 | -833 | 68009 | 60855 | 7154 | 75454 | 61711 | 13744 |
| i) Suppliers’ Credit & Buyers’ Credit >180 days | 54041 | 57172 | -3130 | 56654 | 59096 | -2443 | 66389 | 57976 | 8413 |
| ii) Suppliers’ credit up to 180 days | 4809 | 2512 | 2297 | 11356 | 1759 | 9597 | 9066 | 3735 | 5331 |
| 3. Banking capital (a+b) | 148870 | 108327 | 40543 | 161923 | 171717 | -9794 | 151570 | 145142 | 6427 |
| a) Commercial Banks | 147548 | 108255 | 39293 | 161475 | 171492 | -10018 | 150998 | 144972 | 6026 |
| i) Assets | 47758 | 32198 | 15560 | 46671 | 75999 | -29327 | 42215 | 50164 | -7949 |
| ii) Liabilities | 99790 | 76057 | 23733 | 114803 | 95494 | 19310 | 108783 | 94809 | 13975 |
| of which: Non-Resident Deposits | 88576 | 73875 | 14702 | 104546 | 88383 | 16163 | 101830 | 87418 | 14413 |
| b) Others | 1322 | 72 | 1250 | 448 | 224 | 224 | 571 | 170 | 401 |
| 4. Rupee debt service | 0 | 72 | -72 | 0 | 70 | -70 | 0 | 70 | -70 |
| 5. Other capital | 44668 | 56501 | -11833 | 61094 | 68453 | -7359 | 53874 | 76326 | -22452 |
| Total capital account (1 to 5) | 851908 | 762497 | 89411 | 1118552 | 1101927 | 16625 | 1604636 | 1602728 | 1908 |
| C. Errors & omissions | 1590 | 1188 | 402 | 1851 | 448 | 1402 | 2279 | 2421 | -142 |
| D. Overall balance (A+B+C) | 1796358 | 1732656 | 63702 | 2139032 | 2144065 | -5032 | 2684692 | 2708291 | -23599 |
| E. Monetary movements (i+ii) | 0 | 63702 | -63702 | 37660 | 32628 | 5032 | 35326 | 11727 | 23599 |
| i) I.M.F. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ii) Foreign exchange reserves (Increase- / Decrease+) | 0 | 63702 | -63702 | 37660 | 32628 | 5032 | 35326 | 11727 | 23599 |
| of which: SDR Allocation | - | - | - | - | - | - | - | - | - |
Notes : 1. G.n.i.e.: Government not included elsewhere.
2. Data for 2025-26 are preliminary estimates.
3. Total may not tally due to rounding off.
Also see Notes on Tables.
Source : Reserve Bank of India. |