Indians owe the world $82.5 billion as of end-June 2009
03 Oct 2009
Net claim of non-residents on India as measured by the net international investment position (IIP) as of end-June 2009 increased by $23.1 billion (or 38.8 per cent) to $82.5 billion from $59.4 billion at end-March 2009.
The total external financial assets (ie, international assets - international liabilities) of the country increased by $10.2 billion to $360.2 billion as of end-June 2009 compared to the previous quarter.
Among the components of external financial assets, reserve assets, ie, official reserves including foreign currency assets, IMF reserve position, SDRs and gold, improved by $13.2 billion over the end-March 2009 level and stood at $265.1 billion as of end-June 2009.
Direct investment abroad moved up by $2.6 billion from the previous quarter to $69.9 billion at end-June 2009.
Other investments abroad, however, declined by $5.6 billion to $24.4 billion as of end-June 2009, mainly due to a decline in trade credits and currency and deposits by $2.7 billion and $2.2 billion, respectively.
The reserve assets exceeded the total external debt ($227.7 billion) by $37.4 billion as at end-June 2009.