Bigger India
Non-resident claims on India up $26.3-bn as foreign investments hit $1,037.3 bn in Dec
Appreciation of Indian rupee against the US dollar (by 2.2 per cent) during the quarter partly explained the increase in India’s liabilities when valued in US dollar terms.
Net claims of non-residents on India increased by $26.3 billion as of end-December 2017 compared to the previous quarter, Reserve Bank data on India’s international investment position (IIP) released today showed.
Foreign-owned assets in India surged by $38.6 billion from $998.7 billion to $1,037.3 billion during the quarter, with broad-based contribution from foreign direct investment (FDI), portfolio investment, currency and deposits as well as trade credit. Outstanding commercial loans, however, declined marginally during the quarter.