Mumbai: Data released by the Reserve Bank of India (RBI) revealed that the overseas financial assets of Indian residents declined by $43.9 billion during July-September 2022. The main reason for this decline is reduction in reserves assets. Meanwhile, the trade credit, currency and deposits and overseas direct investment recorded increase in this period. India’s International Investment Position (IIP), September 2022 released by RBI revealed this.
The reduction in non-residents’ financial assets in India was relatively lower at $9.6 billion. The net claims of non-residents on India increased by $34.3 billion during the second quarter (Q2) of 2022-23 and stood at $389.6 billion in September 2022.
Also Read: Gulf country doubles fees for renewing exit and re-entry visas
The reserve assets remained the dominant component of India’s international financial assets. The reserve assets has 62.9% share in India’s international financial assets. It had declined by $56.5 billion during July-September 2022. The ratio of international assets to international liabilities moderated to 68.5% in September 2022 from 71.5% a quarter ago.
Post Your Comments