India’s International Investment Position(IIP), December 2024.

The Reserve Bank of India has released a data relating to India’s International Investment Position as of December end 2024.

• Net claims of non-residents on India increased by US$ 11 billion during Q3:2024-25 and stood at US$ 364.5 billion in December 2024.

• Foreign assets of Indian residents declined by US$ 40.1 billion and the claims of non-residents’ in India also declined by US$ 29.1 billion, resulting in increase in the India net foreign liabilities (Table 1).

• The decline in Indian residents’ foreign assets during October-December 2024 was mainly on account of the decrease of US$ 70.1 billion in reserve assets.

• Reserve assets, however, recorded an increase of US$ 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.

• Reserve assets accounted for 59.0 per cent of India’s total international financial assets in December 2024 (Table 2).

• Variation in the exchange rate of rupee vis-a-vis other currencies impacted the change in liabilities, when valued in the US 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 per cent in December 2024 from 52.9 per cent a quarter ago and 51.2 per cent a year ago (Table 3).

Table 1: Overall International Investment Position of India (US$ billion)

Notes (applicable for all tables):

• P: Provisional; PR: Partially Revised.
• The sum of the constituent items may not add to the total due to rounding off.

Table 2: Composition of International Financial Assets and Liabilities of India (%)

Table 3: Share of External Debt and Non-Debt Liabilities of India (%)

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