Overseas claims on India up $11.7 billion at $97.8 billion in September
04 Jan 2010
Net claim of non-residents on India as reflected by the net international investment position (IIP) of the country - the difference between the country's international liabilities and international assets - increased by $11.7 billion to $97.8 billion as of end-September 2009 from $86.1 billion at end-June 2009.
The total external financial assets of the country increased by $21.0 billion to $378.6 billion at end-September 2009 over the previous quarter, the Reserve Bank of India (RBI) said in a release.
Among the components of external financial assets, reserve assets, ie, official reserves, including foreign currency assets, IMF reserve position, SDRs and gold, improved by $16.1 billion over end-June 2009 and stood at $281.3 billion at end-September 2009.
The increase in reserve assets has also been due to increase in SDRs holdings of $5.2 billion over the previous quarter, which includes the SDRs allocation of $4.8 billion under general allocation and $0.3 billion under special allocation by IMF on 28 August 2009 and 9 September 2009, respectively, the release said.
Direct investment abroad moved up by $4.2 billion over the previous quarter to $74.1 billion as at end-September 2009.
Reserve assets exceeded the total external debt ($242.8 billion) by $38.5 billion as at end-September 2009.
Total external financial liabilities increased significantly by $32.7 billion over the previous quarter and stood at $476.4 billion as at end-September 2009. Direct investment and portfolio investment in India increased by $11.0 billion and $10.2 billion, respectively, over the previous quarter.
.webp)
