Remittances, services surplus lift India to $4.7 billion current account surplus in April

India posted a $4.7 billion current account surplus in April, a turnaround from a $4.8 billion deficit a year earlier, supported by a $16 billion jump in net transfers including remittances and an $18.6 billion services sector surplus. However, the capital account swung to an $11.3 billion deficit as FPIs pulled out $8.7 billion amid geopolitical risk-off sentiment, though FDI rose sharply to a net $7.4 billion from $1.6 billion.