Net claims of non-residents on India rise to USD 379.7 billion in June quarter: RBI

India Business News: MUMBAI: Net claims of non-residents on India increased $12.

According to India's international investment position for the October-December period of the current fiscal, released by the Reserve Bank of India (RBI) on Friday, net claims of non-residents in India declined by $12 billion during October-December 2022 and stood at $374.5 billion. The reduction in net claims was due to higher rise in Indian residents' overseas financial assets ($28.7 billion) as compared with the increase in foreign liabilities of Indians ($16.7 billion).

New Delhi [India], March 30 (ANI): The Reserve Bank of India (RBI) disclosed the latest figures concerning India’s 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 […]

India's electronics exports to the US have more than doubled to $6.6 billion from January to September 2023, reaching an all-time high. The share of electronics imported from China into the US has decreased. The bilateral electronics trade between India and the US has also seen a significant increase. The Indo-US Task Force for Electronics aims to elevate India's position in the US electronics market.

Six product categories - petroleum, crude oil; coal, coke; diamond, precious metals; chemicals, pharma, rubber, plastics; electronics; and machinery - account for 82 per cent of India's total merchandise imports.

Overall, our external sector indicators have improved significantly. Foreign exchange reserves have rebounded from USD 524.5 billion on October 21, 2022 and now stand in excess of USD 600 billion taking into account our forward assets, said Das while announcing the key decisions of the Monetary Policy Committee (MPC) meeting.

Of the total deals, M&As constituted more than half, still lower by 21 per cent at USD 4.4 billion involving 76 deals, down 56 per cent during the March quarter, according to the data collated by Grant Thornton. In volume terms, overall deals fell by 46 per cent to 332 transactions. The main reason for the poor show was the tepid IPO market, which plunged to USD 84.4 million from USD 1 billion in Q1 of 2022.

On the export front, the US emerged as the top destination for Indian exporters during the 11-month period, accounting for 17.5 per cent of the country's total outbound shipments. Exports to the US increased to USD 70.99 billion as against USD 68.447 billion during April-February period of 2021-22.

According to the analysis by GTRI, exports of goods and services by India rose by 1.5 per cent to USD 385.4 billion during January-June this year, as against USD 379.5 billion in January-June 2022. Imports, however, dipped by 5.9 per cent to USD 415.5 billion during the six months of this year, as against USD 441.7 billion in January-June 2022.

Mumbai, Dec 26 (PTI) India’s current account deficit declined sharply to 1 per cent of the GDP or USD 8.3 billion in the second quarter of this financial year, mainly due to lower merchandise trade deficit and growth in services exports, according to a RBI data released on Tuesday. The current account deficit (CAD) was […]