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Today, the Reserve Bank released data relating to India’s International Investment Position for end-June 2026[1].
Key highlights of India’s IIP in end-June 2026:
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Net claims of non-residents on India increased by US$ 16.5 billion during Q1:2026-27 to US$ 220.3 billion as at end-June 2026, mainly due to increase in external liabilities by US$ 11.6 billion and a decline of US$ 4.9 billion in the foreign-owned assets (Table 1).
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Accordingly, the ratio of India’s international assets to international liabilities moderated to 84.6 per cent in June 2026 from 85.7 per cent a quarter ago (Chart 1 & Table 1).
-
Rise in foreign liabilities of Indian residents was mainly on account of increased direct investment (US$ 15.7 billion) and other investment (US$ 4.2 billion) compensating for the decline in portfolio equity investments (US$ 14 billion).
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Reserve assets accounted for 55.1 per cent of India’s international financial assets while overseas direct investment accounted for over one fourth share (Table 2).
- The share of debt liabilities in total external liabilities increased gradually during the recent quarters and stood at 56.9 per cent as on end-June 2026 (Table 3).
(Brij Raj)
Chief General Manager
Press Release: 2026-2027/1223
| Table 1: Overall International Investment Position of India |
| (US$ billion) |
| Period |
Jun-25 (PR) |
Sep-25 (PR) |
Dec-25 (PR) |
Mar-26 (PR) |
Jun-26 (P) |
| Net IIP (A-B) |
-312.9 |
-271.9 |
-261.6 |
-203.8 |
-220.3 |
| A. Assets |
1,177.3 |
1,185.5 |
1,200.2 |
1,217.4 |
1,212.5 |
| 1. Direct Investment |
279.6 |
289.2 |
299.0 |
306.6 |
316.1 |
| 1.1 Equity and investment fund shares |
180.2 |
187.8 |
196.0 |
201.7 |
208.7 |
| 1.2 Debt instruments |
99.4 |
101.4 |
103.0 |
105.0 |
107.4 |
| 2. Portfolio Investment |
16.3 |
16.6 |
16.5 |
22.4 |
23.4 |
| 2.1 Equity and investment fund shares |
13.1 |
12.5 |
10.1 |
12.2 |
16.0 |
| 2.2 Debt securities |
3.2 |
4.1 |
6.4 |
10.2 |
7.4 |
| 3. Other Investment |
183.3 |
179.6 |
197.0 |
197.3 |
204.4 |
| 3.1 Trade Credits |
33.7 |
31.9 |
34.2 |
31.0 |
31.0 |
| 3.2 Loans |
25.6 |
25.8 |
26.8 |
26.9 |
28.6 |
| 3.3 Currency and Deposits |
83.6 |
80.8 |
90.2 |
89.8 |
91.3 |
| 3.4 Other Assets |
40.4 |
41.1 |
45.8 |
49.6 |
53.5 |
| 4. Reserve Assets |
698.1 |
700.1 |
687.7 |
691.1 |
668.6 |
| B. Liabilities |
1,490.2 |
1,457.4 |
1,461.8 |
1,421.2 |
1,432.8 |
| 1. Direct Investment |
571.7 |
563.0 |
560.5 |
545.2 |
560.9 |
| 1.1 Equity and investment fund shares |
535.9 |
526.7 |
523.7 |
508.1 |
521.8 |
| 1.2 Debt instruments |
35.8 |
36.3 |
36.9 |
37.2 |
39.1 |
| 2. Portfolio Investment |
272.6 |
258.7 |
255.9 |
232.3 |
224.0 |
| 2.1 Equity and investment fund shares |
147.4 |
133.0 |
130.1 |
109.3 |
95.3 |
| 2.2 Debt securities |
125.2 |
125.7 |
125.8 |
123.0 |
128.7 |
| 3. Other Investment |
646.0 |
635.6 |
645.4 |
643.7 |
647.9 |
| 3.1 Trade Credits |
131.1 |
135.0 |
148.3 |
144.9 |
148.4 |
| 3.2 Loans |
260.3 |
258.5 |
259.8 |
264.9 |
267.0 |
| 3.3 Currency and Deposits |
171.7 |
168.9 |
173.9 |
170.4 |
172.6 |
| 3.4 Other Liabilities |
60.1 |
50.6 |
40.7 |
41.1 |
37.5 |
| 3.5 Special drawing rights (Net incurrence of liabilities) |
22.7 |
22.7 |
22.7 |
22.4 |
22.4 |
| Memo Item: Assets to Liability ratio (%) |
79.0 |
81.3 |
82.1 |
85.7 |
84.6 |
Notes (applicable for all tables):
1. P: Provisional; PR: Partially Revised; and R: Revised.
2. 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 |
Jun-25 (PR) |
Sep-25 (PR) |
Dec-25 (PR) |
Mar-26 (PR) |
Jun-26 (P) |
| A. Assets |
| 1. Direct Investment |
23.7 |
24.4 |
24.9 |
25.2 |
26.1 |
| 2. Portfolio Investment |
1.4 |
1.4 |
1.4 |
1.8 |
1.9 |
| 3. Other Investment |
15.6 |
15.1 |
16.4 |
16.2 |
16.9 |
| 4. Reserve Assets |
59.3 |
59.1 |
57.3 |
56.8 |
55.1 |
| Total |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
| B. Liabilities |
| 1. Direct Investment |
38.4 |
38.6 |
38.3 |
38.4 |
39.2 |
| 2. Portfolio Investment |
18.3 |
17.8 |
17.5 |
16.3 |
15.6 |
| 3. Other Investment |
43.3 |
43.6 |
44.2 |
45.3 |
45.2 |
| Total |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
| Table 3: Share of External Debt and Non-Debt Liabilities of India |
| (Per cent) |
| Period |
Jun-25 (PR) |
Sep-25 (PR) |
Dec-25 (PR) |
Mar-26 (PR) |
Jun-26 (P) |
| Non-Debt Liabilities |
45.9 |
45.3 |
44.7 |
43.4 |
43.1 |
| Debt Liabilities |
54.1 |
54.7 |
55.3 |
56.6 |
56.9 |
| Total |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
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