India, Sept. 2 -- India's current account deficit narrowed sharply in April-June 2025, before 50% US tariffs on exports took effect.

The deficit was at $2.4 billion in April-June as against $8.6 billion in the year-ago period, according to data released by the Reserve Bank of India (RBI) on Monday, helped by an increase in service sector exports-up 21% to $47.9 billion-and larger than anticipated remittances. The current account had a surplus of $13.5 billion in the previous quarter.

A current account deficit indicates that a country is importing more than it's exporting. A surplus means exports are higher than imports.

"Front-loaded exports to the US and continuously healthy service exports helped lower the fiscal first quarter defici...