India's external assets grew faster than liabilities: RBI report
external assets grew faster than its liabilities between June 2023 and June 2024, according to the latest report from the Reserve Bank of India (RBI).
The report, which provides details on India's International Investment Position (IIP) as of the end of June 2024, revealed that India's external assets increased by USD 108.4 billion over the year, while external liabilities rose by USD 97.7 billion.
It said «During the period between end-June 2023 and end-June 2024, the external assets increased by USD 108.4 billion and external liabilities increased by USD 97.7 billion».
Despite this growth in assets, India's net IIP, which reflects the difference between external assets and liabilities, remained negative at USD 368.3 billion at the end of June 2024.
This marks an improvement compared to the net IIP of USD -379.0 billion at the end of June 2023, indicating a narrowing of the gap as external assets have grown at a faster pace than liabilities.
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