India's Jan-March CAD narrows to 0.2% of GDP

India's current account deficit narrowed to $1.3 billion, or 0.2 per cent of gross domestic product, in the January-March quarter from $8.3 billion, or 1.6 per cent of GDP in the previous quarter, the Reserve Bank of India said on Wednesday.

That compared to $1.2 billion in the January-March quarter of 2014, the Reserve Bank of India said.

But the balance of payment stood at a surplus of $30.1 billion during January-March, a sixth consecutive quarter of surplus.

The trade deficit in the January-March period narrowed to $31.7 billion from the previously reported $39.2 billion a quarter ago.