Net claims of non-residents on India declined by US$ 19.8 billion during Q2:2024-25 to US$ 348.5 billion in September 2024. Higher rise has been noted in Indian residents’ overseas financial assets (US$ 66.5 billion) as compared to that in the foreign-owned assets in India (US$ 46.7 billion) led to the decline in net claims of non-residents during the quarter.
Over 80 per cent of the increase in overseas financial assets during July-September 2024 was due to the surge of US$ 53.8 billion in the reserve assets. Reserve assets had 63 per cent share in India’s total international financial assets in September 2024.
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