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RBI forex inflows ease near-term BoP pressure, challenges persist: CEA

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RBI forex inflows ease near-term BoP pressure, challenges persist: CEA

Home / Economy / News / RBI forex inflows ease near-term BoP pressure, challenges persist: CEA

CEA V Anantha Nageswaran said rising imports, commodity dependence, higher global interest rates and competition for capital would keep pressure on India's external account

V. Anantha Nageswaran, Chief Economic Advisor, Government of India during a 13th SBI Banking & Economic Conclave in Mumbai | Image: Kamlesh Pednekar

Subrata Panda Mumbai 5 min read Last Updated : Sep 24 2026 | 7:53 PM IST

India’s balance of payments pressure is likely to remain a challenge as rising imports, dependence on key commodities, high global interest rates and competition for capital weigh on the external account, said V Anantha Nageswaran, the government’s chief economic adviser, on Thursday.

Funds mobilised by the Reserve Bank of India (RBI) under its concessional swap window this year provide “a lot of breathing room” in the near term but they are not a lasting solution, he said at State Bank of India Banking & Economics Conclave 2026 in Mumbai.

“What the government and the RBI did this year…is an act of foresight which does give us a lot of breathing room in the near term. But at the same time, this is not a lasting solution or a lasting answer because the pressure on balance of payments will remain,” Nageswaran said.

“With rising imports, with rising import dependence on key commodities, global competition for capital including from developed countries and higher interest rates, the balance of payments will remain a challenge not just episodically but almost continuously,” he said.


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