| (US$ Million) |
| Item/Year | 2019-20 | 2020-21 | 2021-22 |
| Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| A. Current account | | | | | | | | | |
| 1. Merchandise | 320431 | 477937 | -157506 | 296300 | 398452 | -102152 | 429164 | 618623 | -189459 |
| 2. Invisibles (a+b+c) | 321712 | 188862 | 132850 | 307253 | 181188 | 126065 | 369600 | 218906 | 150694 |
| a) Services | 213191 | 128269 | 84922 | 206090 | 117524 | 88565 | 254527 | 147011 | 107516 |
| i) Travel | 29998 | 22011 | 7987 | 8483 | 11507 | -3024 | 9099 | 16272 | -7173 |
| ii) Transportation | 20988 | 24285 | -3297 | 21854 | 19755 | 2099 | 32660 | 35836 | -3177 |
| iii) Insurance | 2431 | 1738 | 692 | 2376 | 2058 | 318 | 3316 | 2076 | 1241 |
| iv) G.n.i.e. | 659 | 1107 | -448 | 630 | 1021 | -392 | 803 | 968 | -165 |
| v) Miscellaneous | 159115 | 79128 | 79987 | 172746 | 83182 | 89564 | 208649 | 91859 | 116790 |
| of which : Software services | 93102 | 8459 | 84643 | 99997 | 10257 | 89741 | 122093 | 12554 | 109540 |
| Business services | 45716 | 46881 | -1165 | 49161 | 49522 | -361 | 58967 | 51681 | 7286 |
| Financial services | 4734 | 2919 | 1814 | 4338 | 4763 | -424 | 5472 | 5620 | -147 |
| Communication services | 2723 | 1296 | 1426 | 2801 | 1438 | 1363 | 3137 | 1130 | 2007 |
| b) Transfers | 83356 | 8147 | 75208 | 80328 | 6868 | 73460 | 89322 | 8875 | 80447 |
| i) Official | 161 | 1170 | -1009 | 143 | 1122 | -979 | 195 | 978 | -783 |
| ii) Private | 83195 | 6977 | 76217 | 80185 | 5746 | 74439 | 89127 | 7898 | 81230 |
| c) Income | 25166 | 52446 | -27281 | 20835 | 56796 | -35960 | 25751 | 63020 | -37269 |
| i) Investment income | 19542 | 49752 | -30210 | 14840 | 53993 | -39154 | 19391 | 59957 | -40565 |
| ii) Compensation of employees | 5623 | 2694 | 2929 | 5996 | 2802 | 3193 | 6360 | 3063 | 3296 |
| Total Current account (1+2) | 642143 | 666799 | -24656 | 603553 | 579640 | 23912 | 798764 | 837529 | -38766 |
| B. Capital account | | | | | | | | | |
| 1. Foreign investment (a+b) | 368534 | 324118 | 44417 | 400001 | 319909 | 80092 | 478000 | 456191 | 21809 |
| a) Foreign direct investment (i+ii) | 77794 | 34780 | 43013 | 86286 | 42330 | 43955 | 88235 | 49649 | 38587 |
| i) In India | 74390 | 18384 | 56006 | 81973 | 27046 | 54927 | 84835 | 28605 | 56231 |
| Equity | 51734 | 18212 | 33522 | 61088 | 26983 | 34105 | 59684 | 27189 | 32495 |
| Reinvested earnings | 14175 | 0 | 14175 | 16935 | 0 | 16935 | 19347 | 0 | 19347 |
| Other Capital | 8482 | 173 | 8309 | 3950 | 63 | 3887 | 5805 | 1416 | 4389 |
| ii) Abroad | 3403 | 16396 | -12993 | 4313 | 15285 | -10972 | 3400 | 21044 | -17644 |
| Equity | 3403 | 7572 | -4168 | 4313 | 5583 | -1271 | 3400 | 10061 | -6661 |
| Reinvested earnings | 0 | 3151 | -3151 | 0 | 3013 | -3013 | 0 | 3379 | -3379 |
| Other capital | 0 | 5674 | -5674 | 0 | 6688 | -6688 | 0 | 7604 | -7604 |
| b) Portfolio investment | 290741 | 289337 | 1403 | 313715 | 277579 | 36137 | 389764 | 406542 | -16777 |
| i) In India | 284128 | 283576 | 552 | 312005 | 273279 | 38725 | 385710 | 399781 | -14071 |
| FIIs | 284128 | 283576 | 552 | 312005 | 273279 | 38725 | 385710 | 399781 | -14071 |
| of which: | | | | | | | | | |
| Equity | 215270 | 215709 | -438 | 269762 | 230937 | 38825 | 343081 | 358702 | -15621 |
| Debt | 68858 | 67868 | 990 | 42243 | 42342 | -99 | 42629 | 41079 | 1550 |
| GDRs/ADRs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ii) Abroad | 6612 | 5761 | 851 | 1711 | 4299 | -2589 | 4054 | 6761 | -2706 |
| 2. Loans (a+b+c) | 94239 | 68553 | 25686 | 85650 | 78747 | 6903 | 105457 | 71851 | 33605 |
| a) External assistance | 9330 | 5579 | 3751 | 16898 | 5731 | 11167 | 10990 | 5625 | 5366 |
| i) By India | 8 | 113 | -105 | 38 | 82 | -44 | 51 | 65 | -14 |
| ii) To India | 9323 | 5466 | 3856 | 16860 | 5649 | 11211 | 10940 | 5560 | 5379 |
| b) Commercial borrowings | 46149 | 23188 | 22960 | 31388 | 31522 | -134 | 30110 | 21975 | 8135 |
| i) By India | 6843 | 5563 | 1280 | 2863 | 3237 | -374 | 1884 | 1156 | 728 |
| ii) To India | 39305 | 17625 | 21680 | 28525 | 28285 | 240 | 28226 | 20819 | 7407 |
| c) Short term to India | 38759 | 39785 | -1026 | 37365 | 41494 | -4130 | 64356 | 44252 | 20105 |
| i) Suppliers’ Credit >180 days & Buyers’ Credit | 37359 | 38233 | -873 | 35284 | 39984 | -4700 | 45447 | 44252 | 1196 |
| ii) Suppliers’ credit up to 180 days | 1400 | 1552 | -152 | 2080 | 1510 | 570 | 18909 | 0 | 18909 |
| 3. Banking capital (a+b) | 84716 | 90031 | -5315 | 74284 | 95351 | -21067 | 102886 | 96217 | 6669 |
| a) Commercial Banks | 84603 | 89255 | -4653 | 73662 | 94583 | -20921 | 102497 | 95386 | 7111 |
| i) Assets | 26819 | 31225 | -4406 | 23603 | 44975 | -21372 | 50645 | 48592 | 2053 |
| ii) Liabilities | 57784 | 58030 | -246 | 50059 | 49608 | 451 | 51851 | 46794 | 5058 |
| of which: Non-Resident Deposits | 55490 | 46863 | 8627 | 46465 | 39101 | 7364 | 45395 | 42161 | 3234 |
| b) Others | 113 | 776 | -663 | 621 | 767 | -146 | 390 | 831 | -441 |
| 4. Rupee debt service | 0 | 69 | -69 | 0 | 64 | -64 | 0 | 71 | -71 |
| 5. Other capital | 62549 | 44087 | 18462 | 39090 | 41233 | -2143 | 75059 | 51265 | 23794 |
| Total capital account (1 to 5) | 610038 | 526858 | 83180 | 599025 | 535304 | 63721 | 761402 | 675595 | 85807 |
| C. Errors & omissions | 1856 | 882 | 974 | 951 | 1298 | -347 | 1433 | 974 | 459 |
| D. Overall balance (A+B+C) | 1254037 | 1194539 | 59498 | 1203529 | 1116242 | 87286 | 1561599 | 1514098 | 47501 |
| E. Monetary movements (i+ii) | 0 | 59498 | -59498 | 0 | 87286 | -87286 | 16024 | 63524 | -47501 |
| i) I.M.F. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ii) Foreign exchange reserves (Increase- / Decrease+) | 0 | 59498 | -59498 | 0 | 87286 | -87286 | 16024 | 63524 | -47501 |
| of which: SDR Allocation | - | - | - | - | - | - | 0 | 17862 | -17862 |
| (Continued) |
| TABLE 127 : INDIA’S OVERALL BALANCE OF PAYMENTS - US DOLLAR (Concld.) |
| (US$ Million) |
| Item/Year | 2022-23 | 2023-24 | 2024-25 |
| Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net |
| 1 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 |
| A. Current account | | | | | | | | | |
| 1. Merchandise | 456073 | 721364 | -265291 | 441443 | 686354 | -244911 | 441790 | 729004 | -287214 |
| 2. Invisibles (a+b+c) | 465804 | 267568 | 198236 | 501417 | 282617 | 218800 | 576535 | 312689 | 263846 |
| a) Services | 325329 | 182046 | 143283 | 341062 | 178311 | 162752 | 387540 | 198717 | 188824 |
| i) Travel | 27049 | 28447 | -1398 | 33704 | 33701 | 4 | 34152 | 34843 | -691 |
| ii) Transportation | 36091 | 40617 | -4526 | 29183 | 29256 | -72 | 33748 | 35029 | -1281 |
| iii) Insurance | 3277 | 2347 | 930 | 3326 | 2917 | 408 | 3563 | 3035 | 528 |
| iv) G.n.i.e. | 683 | 1015 | -332 | 609 | 1088 | -479 | 641 | 1261 | -620 |
| v) Miscellaneous | 258229 | 109620 | 148609 | 274239 | 111349 | 162891 | 315437 | 124548 | 190889 |
| of which : Software services | 146775 | 15491 | 131284 | 160333 | 18259 | 142074 | 180626 | 21013 | 159612 |
| Business services | 80350 | 59706 | 20644 | 88570 | 59331 | 29239 | 107212 | 66646 | 40566 |
| Financial services | 7815 | 5708 | 2106 | 8051 | 4560 | 3491 | 8480 | 4068 | 4412 |
| Communication services | 5164 | 3384 | 1780 | 2916 | 1592 | 1325 | 2348 | 2091 | 258 |
| b) Transfers | 112630 | 11753 | 100877 | 118900 | 13115 | 105785 | 135593 | 12202 | 123391 |
| i) Official | 165 | 1064 | -900 | 188 | 1034 | -846 | 167 | 1332 | -1165 |
| ii) Private | 112465 | 10689 | 101776 | 118712 | 12081 | 106631 | 135426 | 10870 | 124556 |
| c) Income | 27845 | 73769 | -45923 | 41455 | 91191 | -49736 | 53402 | 101771 | -48369 |
| i) Investment income | 21114 | 70348 | -49235 | 33926 | 87491 | -53565 | 45063 | 97692 | -52629 |
| ii) Compensation of employees | 6732 | 3421 | 3311 | 7529 | 3700 | 3829 | 8339 | 4079 | 4261 |
| Total Current account (1+2) | 921877 | 988932 | -67055 | 942860 | 968971 | -26111 | 1018326 | 1041694 | -23368 |
| B. Capital account | | | | | | | | | |
| 1. Foreign investment (a+b) | 385089 | 362255 | 22834 | 541041 | 486808 | 54233 | 723525 | 719002 | 4523 |
| a) Foreign direct investment (i+ii) | 75232 | 47246 | 27986 | 74926 | 64774 | 10152 | 84190 | 83232 | 959 |
| i) In India | 71355 | 29349 | 42006 | 71302 | 44472 | 26830 | 80615 | 51486 | 29130 |
| Equity | 47600 | 27094 | 20506 | 45817 | 41334 | 4483 | 50993 | 49525 | 1468 |
| Reinvested earnings | 19105 | 0 | 19105 | 19768 | 0 | 19768 | 22759 | 0 | 22759 |
| Other Capital | 4650 | 2255 | 2395 | 5716 | 3137 | 2579 | 6863 | 1960 | 4903 |
| ii) Abroad | 3877 | 17897 | -14020 | 3624 | 20302 | -16678 | 3575 | 31746 | -28171 |
| Equity | 3877 | 8771 | -4894 | 3624 | 9111 | -5487 | 3575 | 16945 | -13370 |
| Reinvested earnings | 0 | 4412 | -4412 | 0 | 5786 | -5786 | 0 | 6846 | -6846 |
| Other capital | 0 | 4714 | -4714 | 0 | 5406 | -5406 | 0 | 7955 | -7955 |
| b) Portfolio investment | 309857 | 315009 | -5152 | 466115 | 422034 | 44081 | 639334 | 635770 | 3564 |
| i) In India | 307473 | 312301 | -4828 | 462573 | 417947 | 44626 | 636263 | 632980 | 3283 |
| FIIs | 307473 | 312301 | -4828 | 462573 | 417947 | 44626 | 636263 | 632980 | 3283 |
| of which: | | | | | | | | | |
| Equity | 273934 | 279906 | -5972 | 408272 | 383004 | 25268 | 546592 | 562319 | -15727 |
| Debt | 33539 | 32395 | 1144 | 54300 | 34942 | 19358 | 89671 | 70660 | 19010 |
| GDRs/ADRs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ii) Abroad | 2384 | 2708 | -324 | 3543 | 4087 | -544 | 3072 | 2790 | 281 |
| 2. Loans (a+b+c) | 100598 | 92329 | 8269 | 117329 | 110788 | 6541 | 171778 | 142577 | 29202 |
| a) External assistance | 11574 | 6053 | 5521 | 13825 | 6365 | 7460 | 14033 | 7775 | 6258 |
| i) By India | 31 | 90 | -58 | 34 | 177 | -143 | 24 | 103 | -78 |
| ii) To India | 11542 | 5963 | 5579 | 13791 | 6188 | 7603 | 14009 | 7672 | 6337 |
| b) Commercial borrowings | 20695 | 24485 | -3790 | 44653 | 44739 | -86 | 89739 | 73950 | 15789 |
| i) By India | 1285 | 936 | 349 | 11178 | 14808 | -3630 | 41959 | 44544 | -2586 |
| ii) To India | 19410 | 23549 | -4139 | 33476 | 29931 | 3545 | 47781 | 29406 | 18375 |
| c) Short term to India | 68330 | 61791 | 6539 | 58851 | 59684 | -833 | 68006 | 60852 | 7154 |
| i) Suppliers’ Credit >180 days & Buyers’ Credit | 68330 | 55626 | 12704 | 54041 | 57172 | -3130 | 56654 | 59096 | -2443 |
| ii) Suppliers’ credit up to 180 days | 0 | 6165 | -6165 | 4809 | 2512 | 2297 | 11352 | 1755 | 9597 |
| 3. Banking capital (a+b) | 129368 | 108388 | 20980 | 148870 | 108327 | 40543 | 161923 | 171717 | -9794 |
| a) Commercial Banks | 129293 | 107726 | 21566 | 147548 | 108255 | 39293 | 161475 | 171492 | -10018 |
| i) Assets | 58387 | 46417 | 11970 | 47758 | 32198 | 15560 | 46671 | 75999 | -29327 |
| ii) Liabilities | 70906 | 61309 | 9596 | 99790 | 76057 | 23733 | 114803 | 95494 | 19310 |
| of which: Non-Resident Deposits | 64274 | 55285 | 8989 | 88576 | 73875 | 14702 | 104546 | 88383 | 16163 |
| b) Others | 75 | 661 | -586 | 1322 | 72 | 1250 | 448 | 224 | 224 |
| 4. Rupee debt service | 0 | 68 | -68 | 0 | 72 | -72 | 0 | 70 | -70 |
| 5. Other capital | 57499 | 50571 | 6928 | 44668 | 56501 | -11833 | 59601 | 66674 | -7072 |
| Total capital account (1 to 5) | 672554 | 613611 | 58943 | 851908 | 762497 | 89411 | 1116827 | 1100039 | 16788 |
| C. Errors & omissions | 900 | 1924 | -1024 | 1590 | 1188 | 402 | 1996 | 449 | 1547 |
| D. Overall balance (A+B+C) | 1595331 | 1604466 | -9135 | 1796358 | 1732656 | 63702 | 2137149 | 2142181 | -5032 |
| E. Monetary movements (i+ii) | 30379 | 21244 | 9135 | 0 | 63702 | -63702 | 37660 | 32628 | 5032 |
| i) I.M.F. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ii) Foreign exchange reserves (Increase- / Decrease+) | 30379 | 21244 | 9135 | 0 | 63702 | -63702 | 37660 | 32628 | 5032 |
| of which: SDR Allocation | - | - | - | 0 | 0 | 0 | - | - | - |
Notes : 1. G.n.i.e.: Government not included elsewhere.
2. Data for 2024-25 are preliminary estimates.
3. Total may not tally due to rounding off.
Also see Notes on Tables.
Source : Reserve Bank of India. |