New Delhi, May 16 -- With the West Asia conflict persisting and global oil prices likely to average around USD 100/bbl, India's current account deficit could rise meaningfully this year, ICICI Bank Global Markets warns. While resilient services exports should offer some cushion, the brokerage expects the current account deficit (CAD) to settle between 1.5-2 per cent of GDP, provided non-essential imports are contained and capital inflows improve once global risk sentiment stabilizes.

India's goods exports had a strong start to FY27, rising 14 per cent YoY to USD 43.6 billion in April, driven by a sharp 35 per cent YoY jump in oil exports and a 9 per cent YoY rebound in non-oil exports. Oil exports touched USD 9.6 billion, the strongest g...