India owes USD 82.5 billion to foreigners: RBI | business | Hindustan Times
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India owes USD 82.5 billion to foreigners: RBI

India owed USD 82.5 billion to foreigners as on June-end this year, 39 per cent higher than USD 59.4 billion three months back, in terms of the country's assets and liabilities to the international community.

business Updated: Oct 02, 2009 10:30 IST

India owed USD 82.5 billion to foreigners as on June-end this year, 39 per cent higher than USD 59.4 billion three months back, in terms of the country's assets and liabilities to the international community.

"Net claim of non-residents on India as reflected by the net IIP (international assets minus international liabilities) as at June-end 2009, increased by USD 23.1 billion to USD 82.5 billion from USD 59.4 billion as at March-end 2009," RBI said.

The total external financial assets increased by USD 10.2 billion to USD 360.2 billion as at June-end 2009 over the previous quarter, the central bank said in a statement.

Among the external financial assets, reserve assets, including foreign currency assets, IMF reserve position, Special Drawing Rights and gold, improved by USD 13.2 billion over the March-end and stood at USD 265.1 billion at June-end.

Direct investment abroad moved up by USD 2.6 billion over the previous quarter to USD 69.9 billion as at end-June 2009.

Meanwhile, the total external financial liabilities increased significantly by USD 33.3 billion to USD 442.7 billion as at June-end over the previous quarter.

"This considerable rise in liabilities was mainly due to inflow on account of direct investment and portfolio equity investment in India during April-June 2009 and also due to effect of valuation changes," RBI said.