Net overseas claim on Indians soars to $94.8 billion
01 Jul 2010
Net claim of non-residents on Indians as reflected by the net international investment position (IIP), which is the difference between the country's international assets and international liabilities, as of end-March 2010 increased by $94.8 billion over the previous financial year, primarily due to increase in net inflow of portfolio and direct investment in India.
India's total external financial liabilities went up by $127.5 billion to $536.5 billion as of end-March 2010 over the previous year.
Total external financial assets increased by $32.6 billion to $378.8 billion as of end-March 2010 from $346.2 billion at end-March 2009.
On a quarterly basis, net claim of non-residents on India as reflected by the IIP, as of end-March 2010, increased by $34.5 billion to $157.6 billion from $123.1 billion at end-December 2009.
The increase has mainly been due to an increase in net inflow of portfolio and direct investments in India, a Reserve Bank of India release said.
On the other hand, total external financial assets of the country decreased by $1.9 billion to $378.8 billion as of end-March 2010 over the previous quarter, due to a decline in reserve assets.
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