Continuing to increase its exposure, India’s holdings of American government securities touched USD 145.1 billion at the end of September, official data showed.
Remaining the 11th largest holder of the US Treasury securities, India increased its holdings by little over USD 6 billion in September compared to August when the same stood at USD 138.9 billion.
The US government data showed that India’s holdings rose to USD 145.1 billion in September – also the highest so far this year.
As per data from the Treasury Department, the exposure of India to these securities has been on the rise since February when it had touched USD 112.3 billion.
The country’s holdings have jumped by USD 31.4 billion in eight months starting January when the exposure was at USD 113.7 billion.
This also comes at a time when the American economy is recording steady growth over the past few quarters.
Neighbouring China topped the list with holdings worth USD 1.1808 trillion as on September end followed by Japan whose exposure stood at USD 1.096 trillion during the same period.
With holdings to the tune of USD 310.8 billion, Ireland was at the third place followed by Brazil (USD 272.8 billion) and Cayman Islands (USD 267.6 billion) at fourth and fifth places, respectively.
India is the 11th largest holder of US Treasury securities and third largest among the BRIC grouping. At the end of September, Russia’s exposure stood at USD 103.9 billion.
“Foreign residents increased their holdings of long-term US securities in September; net purchases were USD 60.8 billion.
“Net purchases by private foreign investors were USD 59.5 billion, while net purchases by foreign official institutions were USD 1.3 billion,” the Treasury Department said in a release on November 15.
In the third quarter, the world’s largest economy grew 3 per cent, as per the advanced estimates from the US Bureau of Economic Analysis.