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Uday Kotak seeks panel on rising gold imports as FY27 bill threatens to touch $90 billion: Report
19 Sept 2026 · Business Today Mkts
The veteran banker cautioned that rising international prices and sustained appetite could push the current account deficit (CAD) to nearly $60 billion in FY27, assuming crude oil averages around $90 per barrel, driven heavily by an estimated $88-90 billion outbound gold bill.
Key facts
- Period
- FY27
The analysis
This is an Input cost / crude event. India imports most of its crude, so input costs pass through to margins downstream and to the rupee. Producers and consumers of the same input move in opposite directions.