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Brief
Summary:
The Reserve Bank of India has released data on India's International Investment Position (IIP) for end-June 2023. Key highlights:
India's net claims of non-residents on India increased by US$ 12.1 billion during Q1:2023-24, reaching US$ 379.7 billion.
The rise in net claims was driven by a higher increase in foreign-owned financial assets in India (US$ 36.2 billion) compared to Indian residents' overseas financial assets (US$ 24.1 billion).
Reserve assets accounted for 64.2% of India's international financial assets, while debt and non-debt liabilities accounted for nearly equal shares in total external liabilities.
The ratio of India's international assets to international liabilities moderated to 70.9% in June 2023 from 71.1% a quarter ago and 71.5% a year ago.
These statistics provide insights into India's international financial situation and its economic relationships with other countries.
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