02 October, 2009

India owes $82.5 billion to foreigners: RBI

India owed $82.5 billion to foreigners as on June-end this year, 39 per cent higher than $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 $23.1 billion to $82.5 billion from $59.4 billion as at March-end 2009

The total external financial assets increased by $10.2 billion to $360.2 billion as at June-end 2009 over the previous quarter. Direct investment abroad moved up by $2.6 billion over the previous quarter to $69.9 billion as at end-June 2009. Meanwhile, the total external financial liabilities increased significantly by $33.3 billion to $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.