India buys US debts worth $38.2 bn in just 1 year | business | Hindustan Times
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India buys US debts worth $38.2 bn in just 1 year

business Updated: May 24, 2009 15:20 IST

As the recession-hit US economy is groping in the dark over uncertain financial position, India has increased its exposure to American debt securities by over three-fold to $38.2 billion till March compared to the year-ago period.

The emerging nation's investment in the US debt stood at $11.8 billion in March 2008.
According to the data from the US Treasury Department, India has bought American debt instruments worth $38.2 billion till March 2009.

Interestingly, India's exposure to US debt has surged by about $20 billion since October 2008, when the ongoing financial turmoil turned for the worse. The world's largest economy was rattled by the then-famed Lehman Brothers filing for bankruptcy in mid-September.

Considered to be one of the safest investment bets, India had invested $18.3 billion in October 2008 in the American securities, which soared to $38.2 billion in March.

Among the foreign countries, neighbouring China has the highest investment of $767.9 billion. Japan, the world's second largest economy has invested $686.7 billion in US debts till March 2009.