Moneycontrol PRO
Open App
Live: LIVE | Sebi Chief Madhabi Puri Buch Addresses Media

Foreign-owned assets in India increased by $37.3 billion during September quarter: RBI

According to India's International Investment Position (IIP), the liabilities stood at $1,258.9 billion during the July-September quarter as compared to USD 1,221.6 billion at June-end 2021.

December 31, 2021 / 09:10 PM IST
Representative image

Representative image

Foreign-owned assets in India increased by $37.3 billion in the September quarter while Indian residents' overseas financial assets rose by $31.9 billion during the same period, RBI data showed on Friday. According to India's International Investment Position (IIP), the liabilities stood at $1,258.9 billion during the July-September quarter as compared to $1,221.6 billion at June-end 2021.

The assets stood at $927.1 billion at September-end, up from $895.2 billion in June quarter. "Foreign-owned assets in India increased by $37.3 billion during the quarter whereas Indian residents' overseas financial assets recorded lower rise of $31.9 billion, nearly three fourths of which came from build-up in reserve assets; partly reflecting the allocation of special drawing rights (SDRs) by the International Monetary Fund (IMF) in August 2021," RBI said. According to the data, net claims of the non-residents on India increased by $5.4 billion during the July-September period.

ALSO READ: Despite hikes, RBI would still be supportive on interest rates in 2022

The reserve assets accounted for 68.5 percent of the country's international financial assets in September 2021. The share of debt liabilities in total liabilities increased marginally during the September quarter to 47.8 percent. The ratio of international assets to international liabilities has gradually improved to 73.6 percent in September 2021 from 70.4 percent a year ago. IIP is compiled as per the 'Balance of Payments and International Investment Position Manual (Sixth edition)' of the IMF.

From the September quarter, RBI said the IIP compilation has also been made consistent with the statistical framework provided by the IMF's External Debt Statistics (EDS) Guide 2013, which has led to the reclassification of some sub-components under liabilities, though the aggregate position remains unaltered.
PTI
first published: Dec 31, 2021 09:10 pm
Sections
ISO 27001 - BSI Assurance Mark