Reserve Bank of India Governor Sanjay Malhotra stated that India's foreign exchange reserves are adequate, currently amounting to $697.1 billion as of April 3, up from $688.06 billion the previous week. Despite a decline from a record high of $728.49 billion in late February, attributed to forex interventions and lower gold prices, Malhotra assured that the reserves are sufficient for at least 11 months. He noted that India's current account deficit widened to $13.2 billion in the last quarter, driven by a higher goods trade deficit. However, he expressed confidence in the robustness of the capital accounts and the manageability of the current account. Malhotra highlighted that trade agreements with major economies, including the UK, will help improve India's balance of payments position. He anticipates a recovery in foreign portfolio investment flows, particularly in the technology and financial services sectors, following a significant selloff in the previous fiscal year.