For the March 2020 quarter, the Indian economy reported a current account surplus for the first time in 13 years. The last time India had reported a CAS was in the March 2007 quarter which is why this assumes added significance.
Lower trade deficit
If you look at the full financial year FY20 the trade deficit was nearly 15% lower than the previous year. Of course, this can be partly attributed to weak oil prices and partly to the lag effect of the COVID-19 pandemic. But trade deficit compressed from a high of $15 billion per month to as low as $6 billion per month. The COVID shock also led to an overall compression in world trade and that was also responsible for the sharp fall in the trade deficit. This was one of the key reasons that accounted for India shifting to a current account surplus.