India's foreign assets surged, narrowing its net liability to non-residents by $19.8 billion in Q3 2024.

India's net claims on non-residents fell by $19.8 billion to $348.5 billion in the July-September quarter of 2024, driven by a $66.5 billion increase in overseas financial assets held by Indian residents. This surge, largely due to a $53.8 billion rise in reserve assets, improved India's asset-to-liability ratio to 76.2%, up from 74.1% the previous quarter. Debt liabilities also rose to 52.7% of total external liabilities.

3 months ago
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