Goldman Sachs predicts India's BoP surplus and milder rupee depreciation
Goldman Sachs says India is heading for a balance of payments (BoP) surplus and less rupee depreciation in the coming months.
This upbeat outlook comes thanks to strong remittances, booming services exports, and lower oil imports.
The firm also pointed out that the rupee's recent dip was more about global uncertainty (especially in West Asia) than any real weakness in India's fundamentals.
Goldman Sachs expects $60B inflows
India is not as vulnerable to rising oil prices anymore, thanks to energy efficiency and more electric transport.
Goldman Sachs has even trimmed its deficit forecasts for CY26 and FY27 (calendar year 2026 and fiscal year 2026-27), expecting a BoP surplus helped by $60 billion in inflows from Reserve Bank of India moves like concessional foreign exchange swaps and tax breaks for foreign investors.
All these steps are aimed at keeping the rupee steady and supporting economic stability, even when things get shaky globally.