The Reserve Bank of India (RBI) has shared details on India’s International Investment Position (IIP) at the end of December 2022. According to the data, non-residents’ net claims in India dropped by US$ 12.0 billion between October and December 2022, settling at US$ 374.5 billion by the end of December 2022.
The increase in India’s foreign liabilities was mainly driven by trade credits and loans. Additionally, reserve assets made up 64.3% of India’s international financial assets as of December 2022.
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Furthermore, the data released by the RBI shows that India’s international assets accounted for 70.0% of its international liabilities by the end of December 2022, compared to 72.5% in the previous year.
Meanwhile, the proportion of debt liabilities in total external liabilities slightly increased to 50.2% at the end of December 2022 from 49.8% in the previous quarter and 48.4% in the same period the previous year.
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