Net claims of non-residents on India increased by US$ 26.3 billion over the previous quarter (Table 1).
Foreign-owned assets in India surged by US$ 38.6 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.
Indian residents’ overseas assets increased by US$ 12.3 billion over the level in the previous quarter, a substantial portion of which came from increase in the reserve assets.
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.
While reserve assets accounted for over two-thirds of India’s international assets, debt and non-debt liabilities had an almost equal share in total liabilities (Table 2 and 3).
The ratio of India’s international financial assets to international financial liabilities stood at 58.6 per cent at end-December 2017 (59.6 per cent a quarter ago).
Table 1: Overall International Investment Position of India
(US $ billion)
Period
Dec-16 (PR)
Mar-17 (PR)
Jun–17 (PR)
Sep-17 (PR)
Dec–17 (P)
Net IIP
-361.6
-394.1
-406.2
-403.4
-429.7
A. Assets
543.4
564.2
576.7
595.3
607.6
1. Direct Investment
144.1
148.2
151.3
153.6
155.3
2. Portfolio Investment
2.3
2.6
2.1
2.5
2.6
2.1 Equity Securities
2.3
1.6
2.0
2.4
2.3
2.2 Debt Securities
0.0
1.0
0.1
0.1
0.3
3. Other Investment
38.1
43.4
36.8
39.0
40.6
3.1 Trade Credits
1.9
1.8
1.2
1.3
1.6
3.2 Loans
4.2
7.3
5.1
5.9
5.5
3.3 Currency and Deposits
14.9
20.1
16.1
17.2
18.8
3.4 Other Assets
17.1
14.3
14.4
14.7
14.7
4. Reserve Assets
358.9
370.0
386.5
400.2
409.1
B. Liabilities
905.0
958.3
982.9
998.7
1037.3
1. Direct Investment
318.5
342.6
353.2
364.1
377.7
2. Portfolio Investment
221.1
238.6
251.1
254.0
267.7
2.1 Equity Securities
140.6
154.0
154.9
150.1
155.6
2.2 Debt securities
80.5
84.6
96.2
103.9
112.1
3. Other Investment
365.4
377.1
378.5
380.6
391.9
3.1 Trade Credits
84.8
88.9
89.6
93.6
98.5
3.2 Loans
160.1
159.6
158.4
156.9
156.1
3.3 Currency and Deposits
110.0
117.1
118.5
118.3
123.5
3.4 Other Liabilities
10.5
11.6
12.0
11.9
13.8
Memo item: Assets to Liability Ratio (%)
60.1
58.9
58.7
59.6
58.6
R: Revised PR: Partially revised P: Provisional; Note: The sum of the constituent items may not add to the total due to rounding off.
Table 2: Composition of International Financial Assets and Liabilities of India
(per cent)
Period
Dec-16(PR)
Mar-17(PR)
June-17(PR)
Sep-17(PR)
Dec-17(P)
A. Assets
1. Direct Investment
26.5
26.3
26.2
25.8
25.6
2. Portfolio Investment
0.4
0.4
0.4
0.4
0.4
3. Other Investment
7.0
7.7
6.4
6.6
6.7
4. Reserve Assets
66.1
65.6
67.0
67.2
67.3
Assets/Liabilities
100.0
100.0
100.0
100.0
100.0
B. Liabilities
1. Direct Investment
35.2
35.7
35.9
36.5
36.4
2. Portfolio Investment
24.4
24.9
25.6
25.4
25.8
3. Other Investment
40.4
39.4
38.5
38.1
37.8
Table 3: Share of External Debt and Non-Debt Liabilities of India
(per cent)
Period
Dec-16(PR)
Mar-17(PR)
June-17(PR)
Sep-17(PR)
Dec-17(P)
Non-Debt Liabilities
49.2
50.3
50.1
49.9
49.9
Debt Liabilities
50.8
49.7
49.9
50.1
50.1
Total
100.0
100.0
100.0
100.0
100.0
Jose J. Kattoor Chief General Manager
Press Release: 2017-2018/2585
1 India’s quarterly IIP is disseminated with a one- quarter lag. The IIP for end- September 2017 was placed in the public domain on December 29, 2017.
RbiTtsCommonUtility
PLAYING
LISTEN
LOADING...
0:062:49
Related Assets
RBI-Install-RBI-Content-Global
RbiSocialMediaUtility
Share this page:
Install the RBI mobile application and get quick access to the latest news!
RbiWasItHelpfulUtility
Was this page helpful?Thanks!
Would like to give more details?
Thank you for your feedback!Thank you for your feedback!