E-Paper
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.
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.
