The fact that most of the constituents of India’s balance of payments are showing positive trends - on the current as well as capital accounts is a reflection of the increasing competitiveness of the Indian economy and strong confidence of the international community in India’s growth potential.
For the first time after our Independence 56 years ago, the fragility of the balance of payments is no longer a concern of policy makers. This is a highly positive development and regarded as such by the country at large.