Net claims of non-residents on India increased by$11 billion during Q3:2024-25 and stood at $364.5 billion in December 2024 as per India’s International Investment Position (IIP) data released by the Reserve Bank of India (RBI) on Friday.
Foreign assets of Indian residents declined by $40.1 billion and the claims of non-residents’ in India also declined by $29.1 billion, resulting in an increase in India’s net foreign liabilities, according to the data.
“The decline in Indian residents’ foreign assets during October-December 2024 was mainly on account of the decrease of $70.1 billion in reserve assets,” the RBI said.
Reserve assets, however, recorded an increase of $13.2 billion over December 2023.
“The fall in India’s foreign liabilities was due to the decline in inward direct and portfolio investments during the quarter, though trade credit, loans and currency & deposits recorded an increase,” RBI said.
Reserve assets accounted for 59.0% of India’s total international financial assets in December 2024.
Variation in the exchange rate of rupee vis-a-vis other currencies impacted the change in liabilities, when valued in the U.S. dollar terms.
The ratio of India’s international assets to international liabilities improved to 74.7% in December 2024 from 73.1% a year ago.
The share of debt liabilities in total external liabilities increased to 53.6% in December 2024 from 52.9% a quarter ago and 51.2% a year ago, the RBI said.
Published – March 28, 2025 11:16 pm IST
