Overseas claims on India up $6.7 bn at $368.3 bn in Q1 FY25
05 Oct 2024
Net claims of non-residents on India, in terms of the country’s International Investment Position (IIP), increased by $6.7 billion to $368.3 billion during the first quarter of the current financial year ended 30 June 2024, says a Reserve Bank of India (RBI) release.
RBI attributes this increase in net claims of non-residents due to an increase in foreign-owned assets in India to $28.8 billion compared with the overseas assets of Indian residents valued at $22.1 billion.
Foreign direct investment (FDI) had the largest share in the incremental foreign liabilities during April-June 2024, with currency, deposits, loans and trade credit following.
Reserve assets accounted for a fourth of the incremental overseas financial assets of Indian residents during the quarter, which was followed by currency, deposits, loans and direct investments. Reserve assets accounted for 62 per cent of India’s international financial assets in the quarter ended June 2024.
The share of debt in external liabilities of Indians increased marginally to 52 per cent during the April-June 2024 quarter.
The ratio of India’s international assets to international liabilities improved to 74.1 per cent in June 2024 from 71.3 per cent a year ago.
.webp)
.webp)
