Key Points
New Delhi [India], March 30 (ANI): The Reserve Bank of India (RBI) disclosed the latest figures concerning Indias International Investment Position (IIP) as of December 2023 showing a decline in net claims of non-residents on India, plunging by USD 12.2 billion during the period from October to December 2023, culminating at USD 370.4 billion by the end of December 2023..
According to Reserve Bank of India, this dip in net claims is primarily attributed to a substantial surge in Indian residents overseas financial assets, amounting to USD 40.7 billion, outpacing the increase in foreign-owned assets within India, which stood at USD 28.5 billion...
This surge in reserve assets constitutes over 85 per cent of the increase in foreign assets held by Indian residents, underscoring the importance of reserves in bolstering Indias financial position on the global stage...
One of the trends showcased in the report is the improvement in the ratio of Indias international financial assets to international financial liabilities, which rose to 72.4 per cent by December 2023, up from 70.9 per cent in the previous quarter...
The latest figures on Indias International Investment Position paint a picture of dynamic shifts in the countrys financial landscape, with reserves playing a pivotal role in bolstering its position amidst evolving global economic dynamics..
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