India’s International Investment Position (IIP), June 2019

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Published on September 30, 2019

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Today, the Reserve Bank released data relating to India’s International Investment Position at end-June 2019.

Key Features of India’s IIP in June 2019

Net claims of non-residents on India increased by US$ 14.8 billion during April-June 2019 (Table 1).
Foreign owned assets in India increased by US$ 35.0 billion, mainly on account of an increase in foreign direct investment (US$ 18.1 billion), portfolio investment (US$ 6.8 billion) and loans (US$ 5.9 billion).
Foreign assets of Indian residents rose by US$ 20.2 billion during the quarter, primarily on account of increase in reserve assets.
Appreciation of the Indian rupee against the US dollar during the quarter contributed to the increase in India’s liabilities when valued in US dollar terms; excluding this valuation effect, India’s liabilities would have amounted to US$ 1,110.4 billion as against US$ 1,113.9 billion inclusive of valuation.
Reserve assets accounted for 64.9 per cent of total overseas assets (Table 2).
The share of debt liabilities in total liabilities declined marginally to 50.6 per cent from 50.9 per cent at the end of March 2019 (Table 3).

(Yogesh Dayal)
Chief General Manager

Press Release : 2019-2020/827

Table 1: Overall International Investment Position of India
(US $ billion)
Period	June-18(R)	Sep-18(PR)	Dec-18(PR)	Mar-19(PR)	Jun-19(P)
Net IIP (A-B)	-407.4	-387.3	-426.9	-436.8	-451.6
A. Assets	611.1	608.2	606.4	642.1	662.3
1. Direct Investment	160.9	163.5	166.6	170.0	172.9
2. Portfolio Investment	3.1	2.6	2.7	4.7	5.0
2.1 Equity Securities	1.9	1.8	1.4	0.6	1.8
2.2 Debt Securities	1.2	0.8	1.3	4.1	3.2
3. Other Investment	41.3	41.5	41.6	54.5	54.5
3.1 Trade Credits	1.4	0.9	0.3	0.9	2.1
3.2 Loans	7.0	7.1	6.6	9.9	9.8
3.3 Currency and Deposits	16.3	16.6	17.2	25.2	24.2
3.4 Other Assets	16.7	16.9	17.5	18.6	18.4
4. Reserve Assets	405.7	400.5	395.6	412.9	429.8
B. Liabilities	1,018.5	995.5	1,033.3	1,078.9	1,113.9
1. Direct Investment	372.3	362.0	386.2	399.2	417.3
2. Portfolio Investment	254.3	237.9	245.8	260.3	267.1
2.1 Equity Securities	144.4	135.2	138.1	147.5	151.2
2.2 Debt securities	109.9	102.7	107.7	112.8	115.9
3. Other Investment	392.0	395.6	401.2	419.3	429.6
3.1 Trade Credits	99.6	104.3	103.7	105.2	107.2
3.2 Loans	156.6	157.6	160.4	168.1	174.0
3.3 Currency and Deposits	124.5	122.1	126.0	130.6	133.8
3.4 Other Liabilities	11.3	11.5	11.2	15.4	14.6
Memo item: Assets to Liability Ratio (%)	60.0	61.1	58.7	59.5	59.5
R: Revised PR: Partially revised P: Provisional; 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	June-18(R)	Sep-18(PR)	Dec-18(PR)	Mar-19(PR)	Jun-19(P)
A. Assets
1. Direct Investment	26.3	26.9	27.5	26.5	26.1
2. Portfolio Investment	0.5	0.4	0.4	0.7	0.8
3. Other Investment	6.8	6.8	6.9	8.5	8.2
4. Reserve Assets	66.4	65.9	65.2	64.3	64.9
Assets/Liabilities	100.0	100.0	100.0	100.0	100.0
B. Liabilities
1. Direct Investment	36.6	36.4	37.4	37.0	37.5
2. Portfolio Investment	25.0	23.9	23.8	24.1	24.0
3. Other Investment	38.4	39.7	38.8	38.9	38.5

Table 3: Share of External Debt and Non-Debt Liabilities of India
(per cent)
Period	June-18(R)	Sep-18(PR)	Dec-18(PR)	Mar-19(PR)	Jun-19(P)
Non-Debt Liabilities	49.2	48.4	49.1	49.1	49.4
Debt Liabilities	50.8	51.6	50.9	50.9	50.6
Total	100.0	100.0	100.0	100.0	100.0