India’s foreign-owned assets grew by $37.3 billion in the September quarter, while foreign financial assets of Indian residents grew by $31.9 billion, according to data released by the Reserve Bank of India (RBI).
According to India’s International Investment Position (IIP), the liabilities stood at $1,258.9 billion during the July-September quarter, as against $1,221.6 billion in June-end 2021.
At the end of September, assets stood at $927.1 billion, up from $895.2 billion in the June quarter.
“Foreign-owned assets in India increased by $37.3 billion during the quarter, while foreign financial assets of Indian residents registered a lower growth of $31.9 billion, of which nearly three quarters came from construction in reserve assets; partially Reflects the allocation of Special Drawing Rights (SDRs) by the International Monetary Fund (IMF) in August 2021,” the RBI said.
According to central bank data, net claims of non-residents on India increased by $5.4 billion during the July-September period.
The share of reserves in the country’s international financial assets stood at 68.5 per cent in September 2021. The share of debt liabilities in total liabilities increased marginally to 47.8 per cent during the September quarter. The ratio of international assets to international liabilities gradually increased to 73.6 per cent in September 2021 from 70.4 per cent a year ago.
The IIP is compiled in accordance with the IMF’s ‘Balance of Payments and International Investment Status Manual (6th Edition)’.
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