India’s account deficit jumps to a near-decade high

NEW DELHI: India’s current account deficit likely widened to its highest in nearly a decade in the April-June quarter, driven by soaring global commodity prices and the biggest capital outflows since the global financial crisis of 2008, a Reuters poll found.

With the Indian rupee near a record low to the US dollar and a worsening trade gap, worries over the size of the current account shortfall for Asia’s third largest economy, gnawing at investor confidence for months, are set to intensify.