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This is an archive article published on January 2, 2011

Net claims of foreigners,NRIs up at $211 bn

Net claims of foreigners and NRIs on India rose to USD 211.1 billion during July-September.

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Net claims of foreigners and NRIs on India rose to USD 211.1 billion during July-September this fiscal,up USD 33.2 billion over the previous quarter,as robust economic growth drew higher overseas investment.

Easier loans abroad also led to the bigger mop-up.

The second quarter (Q2) figure is a jump of 19 per cent in the net assets of foreigners and NRIs,from USD 177.9 billion during the April-June quarter (Q1) of 2010-11.

This was revealed by RBI data on India’s International Investment Position (IIP),which represents the difference between assets held by residents and non-residents.

During Q2,total external financial assets of Indian residents increased USD 26.8 billion,or 7.15 per cent,to USD 401.7 billion,the IIP figure showed. The total external financial assets in Q1 were USD 374.9 billion.

Among the assets,direct investment abroad went up by USD 4.

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