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Date : Sep 30, 2021
India’s International Investment Position (IIP), June 2021

Today, the Reserve Bank released data relating to India’s International Investment Position at end-June 2021.

Key Features of India’s IIP in June 2021

  • Net claims of non-residents on India declined by US$ 24.3 billion during April-June 2021 to US$ 327.0 billion as at end-June 2021 (Table 1).

  • Reserve assets accounted for 95 per cent of the increase of US$ 35.9 billion in Indian residents’ overseas financial assets during the quarter.

  • Foreign-owned assets in India recorded an increase of US$ 11.6 billion, corresponding to an equal rise in inward foreign direct investment.

  • Variation in exchange rate of rupee vis-a-vis other currencies affected change in liabilities, when valued in US$ terms.

  • Reserve assets continued to have the dominant share (68.3 per cent) in India’s international financial assets (Table 2).

  • The share of non-debt liabilities in total international liabilities edged up to 52.7 per cent in June 2021 (Table 3).

  • The ratio of international assets to international liabilities has gradually improved to 73.2 per cent in June 2021 from 68.5 per cent a year ago.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/963


Table 1: Overall International Investment Position of India
(US $ billion)
Period June-20 (R) Sep-20 (PR) Dec-20 (PR) Mar-21 (PR) June-21 (P)
Net IIP (A-B) -344.8 -337.7 -340.7 -351.3 -327.0
A. Assets 749.0 802.8 852.3 859.3 895.2
1. Direct Investment 185.6 188.3 190.9 193.9 199.2
1.1 Equity and investment fund shares 120.3 121.3 122.5 122.7 125.3
1.2 Debt instruments 65.3 67.0 68.4 71.2 73.9
2. Portfolio Investment 4.3 5.0 6.3 7.9 7.9
2.1 Equity and investment fund shares 0.8 1.9 2.5 2.3 3.1
2.2 Debt Securities 3.5 3.1 3.8 5.6 4.8
3. Other Investment 53.4 64.8 69.3 80.5 77.0
3.1 Trade Credits 1.1 2.8 3.2 5.6 7.9
3.2 Loans 7.4 9.0 10.6 13.3 13.7
3.3 Currency and Deposits 27.7 34.9 37.3 42.4 35.9
3.4 Other Assets 17.2 18.1 18.2 19.2 19.5
4. Reserve Assets 505.7 544.7 585.8 577.0 611.1
B. Liabilities 1,093.8 1,140.5 1,193.0 1,210.6 1,222.2
1. Direct Investment 419.4 455.9 480.2 482.1 493.7
1.1 Equity and investment fund shares 395.8 430.7 454.6 456.9 468.0
1.2 Debt instruments 23.6 25.2 25.6 25.2 25.7
2. Portfolio Investment 241.7 253.3 274.0 282.0 281.3
2.1 Equity and investment fund shares 139.0 149.1 170.6 177.3 176.2
2.2 Debt securities 102.7 104.2 103.4 104.7 105.1
3. Other Investment 432.7 431.3 438.8 446.5 447.2
3.1 Trade Credits 104.0 102.2 102.6 100.3 102.2
3.2 Loans 184.8 180.8 184.0 190.0 189.5
3.3 Currency and Deposits 132.9 137.5 140.7 142.1 141.9
3.4 Other Liabilities 11.0 10.8 11.5 14.1 13.6
Memo item: Assets to Liability Ratio (%) 68.5 70.4 71.4 71.0 73.2
R: Revised    PR: Partially revised    P: Provisional;
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
(per cent)
Period June-20 (R) Sep-20 (PR) Dec-20 (PR) Mar-21 (PR) June-21 (P)
A. Assets          
    1. Direct Investment 24.8 23.4 22.4 22.6 22.3
    2. Portfolio Investment 0.6 0.6 0.7 0.9 0.9
    3. Other Investment 7.1 8.1 8.2 9.4 8.5
    4. Reserve Assets 67.5 67.9 68.7 67.1 68.3
   Assets/Liabilities 100.0 100.0 100.0 100.0 100.0
B. Liabilities
    1. Direct Investment 38.3 40.0 40.2 39.8 40.4
    2. Portfolio Investment 22.1 22.2 23.0 23.3 23.0
    3. Other Investment 39.6 37.8 36.8 36.9 36.6

Table 3: Share of External Debt and Non-Debt Liabilities of India
(per cent)
Period June-20 (R) Sep-20 (PR) Dec-20 (PR) Mar-21 (PR) June-21 (P)
Non-Debt Liabilities 48.9 50.8 52.4 52.4 52.7
Debt Liabilities 51.1 49.2 47.6 47.6 47.3
Total 100.0 100.0 100.0 100.0 100.0

1 India’s quarterly IIP is disseminated with a quarter lag. The IIP for end-March 2021 was placed in the public domain on June 30, 2021


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