An Analysis of Invisibles on India's Balances of Payments on Current Account Since 2001

Abstract: A Balance of Payments (BOP) statement is essentially a double-entry system of record of all economic transactions between the 'residents' of a country and the rest of the world carried out in a specific period of time. At present, all the countries in the world join together forming global village to enrich each country's economy. No country can survive independently. All are mutually interdependent because each country is blessed with its own endowment resources. Over a period of time there has been a marked change in the ideology of the government towards integration with the world economy. The change in the ideology is reflected in the attitude of the government towards LPG policies. The invisibles have been providing substantial support to India's balance of payments in the recent years and are reflective of the ongoing structural transformation within the economy as well as its increasing integration with the world economy.

Keywords: LPG, BOP, Current account, Capital account, invisibles, Trade

Edition: Volume 11 Issue 12, December 2022,

Pages: 1080 - 1085