Foreign-owned assets in India increased by USD 37.3 billion in the September quarter while Indian residents' overseas financial assets rose by USD 31.9 billion during the same period, RBI data showed on Friday.
According to India's International Investment Position (IIP), the liabilities stood at USD 1,258.9 billion during the July-September quarter as compared to USD 1,221.6 billion at June-end 2021.
The assets stood at USD 927.1 billion at September-end, up from USD 895.2 billion in June quarter.
"Foreign-owned assets in India increased by USD 37.3 billion during the quarter whereas Indian residents' overseas financial assets recorded lower rise of USD 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 USD 5.4 billion during the July-September period.
The reserve assets accounted for 68.5 per cent 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 per cent.
The ratio of international assets to international liabilities has gradually improved to 73.6 per cent in September 2021 from 70.4 per cent 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.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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