India’s current account deficit (CAD) is expected to widen sharply to 2.3% of GDP in FY27 from an estimated 0.9% in FY26, as elevated crude oil prices and global economic pressures weigh on the country’s external balances, according to a report released by HSBC on Monday. The foreign brokerage also projected India’s balance of payments (BoP) deficit to widen to nearly USD 65 billion in the current fiscal year, compared with USD 35 billion in FY26.