India’s foreign-owned assets rose $ 37.3 billion in the September quarter

India’s foreign-owned assets rose $ 37.3 billion in the September quarter, while the financial assets of Indian residents abroad rose $ 31.9 billion over the same period, RBI data on Friday showed.

According to the Indian International Investment Position (IIP), liabilities amounted to $ 1,258.9 billion during the July-September quarter compared to $ 1,221.6 billion at the end of June 2021.

Assets amounted to $ 927.1 billion at the end of September, compared to $ 895.2 billion in the June quarter.

“Foreign-owned assets in India rose $ 37.3 billion during the quarter, while financial assets of Indian residents abroad rose slightly by $ 31.9 billion, nearly three-quarters of which came from stockpiling; partly reflecting the allocation of special drawing rights (SDRs) by the International Monetary Fund (IMF) in August 2021, ”the RBI said.

According to the data, the net claims of non-residents from India increased by 5.4 billion dollars in the period July-September.

Reserve funds accounted for 68.5 percent of the country’s international financial assets in September 2021. The share of debt liabilities in total liabilities increased slightly during the September quarter to 47.8 percent.

The ratio of international assets to international liabilities gradually improved to 73.6 percent in September 2021 from 70.4 percent a year ago.

The IIP is compiled according to the IMF’s ‘Balance of Payments and International Investment Position Manual (Sixth Edition)’.

Since the September quarter, the RBI has said that the compilation of the IIP is also in line with the statistical framework provided by the IMF’s 2013 External Debt Statistics Guide (EDS), leading to the reclassification of some subcomponents under liabilities, although the aggregate position remains unchanged.

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