GCCs: The secret ingredient to sustaining India’s current account surplus

India’s external account turning in a surplus on the current account side for the first time in nearly four years may be rare, but opportunities are plenty to make it sustainable. It has been a long and bumpy journey in the last decade when the weak current account - which captures a nation’s trade position with the rest of the world - has moved from a deficit of more than 4% of the Gross Domestic Product (GDP) to a surplus. The latest March