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Balance of Payments

Balance of Payments (External Sector).

Syllabus: UPSC Pre GS1: Economic & Social Development; Mains GS3

In the news

GS3 · External sector

Exports up 15.55% in Apr–Aug 2026-27; electronics exports nearly double in August

India's total exports of goods and services in April to August 2026-27 are estimated at US$ 399.27 billion, 15.55 per cent more than a year earlier, the Commerce Ministry said on 15 September 2026. Merchandise exports grew 17.85 per cent. In August alone, electronic goods exports rose 89.82 per cent to US$ 5.55 billion.

UPSC angle: Prelims: which sectors drove export growth. · Mains: Is India's export growth broad-based or concentrated?

15 Sep 2026
GS3 · Financial sector

GIFT IFSC banking units mobilise $52.8 bn under RBI FCNR(B) swap

IFSCA said on 2 September 2026 that 20 IFSC Banking Units at GIFT City had sanctioned USD 54.02 billion under RBI's special swap facility for FCNR(B) deposits by 31 August, of which about USD 52.82 billion was disbursed. IBUs also disbursed USD 11.62 billion of ECBs from April to August 2026.

UPSC angle: Prelims: IFSCA; FCNR(B).

2 Sep 2026
GS3 · Economy

JCR upgrades India’s sovereign rating to A- (stable)

On 2 September 2026 Japan Credit Rating Agency (JCR) upgraded India's long-term foreign currency and local currency issuer ratings by one notch, from BBB+ to A-, with a stable outlook, and raised the country ceiling to A. It cited strong growth, better quality of spending, a sounder financial system and strong external buffers.

UPSC angle: Prelims: what sovereign ratings measure.

2 Sep 2026