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Modi pushes FX conservation as rupee slides and oil bites What India can do next
Economy
Published on 11 May 2026
The plan revives old tools to pull dollars in
PM Narendra Modi has urged India to conserve foreign exchange as oil prices rise and the rupee weakens. Policymakers are revisiting steps to attract dollar inflows and reduce outflows, including greater use of diaspora deposits, easing select capital account rules, and tighter control on imports—aimed at stabilizing FX reserves and the currency.
- Rising oil prices and a weaker rupee are driving FX concerns
- India is considering attracting more dollars via diaspora deposits
- Easing parts of capital account norms is on the table
- Import controls may be tightened to curb FX outflow
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times