Business
India’s holdings of US government securities reach record high in June
India’s holdings of US government securities reached a record high of $241.9 billion in June, up from $235.4 billion recorded in June last year.
India’s exposure stood at $237.8 billion in May 2024, up from $233.5 billion in April and $240.6 billion in March.
Japan topped the list with securities worth over $1.11 trillion, followed by China with $780.2 billion.The United Kingdom secured the third position with $741.5 billion, while Luxembourg held the fourth spot with $384.2 billion.
India ranked 12th among countries and jurisdictions owning American government securities, with its holdings surpassing the previous year’s levels.
The top 10 holders also included Canada ($374.8 billion), Cayman Islands ($319.4 billion), Belgium ($318 billion), Ireland ($308 billion), France ($307.2 billion), and Switzerland ($287.1 billion). Taiwan secured the 11th position with an exposure of $265.9 billion.
The global economy faces uncertainties due to high inflation, geopolitical tensions, and other challenges, resulting in uneven growth patterns. The United States experienced a 2.8 per cent annual growth rate in the June quarter, surpassing the 1.4 per cent growth in the first three months of 2024. The International Monetary Fund (IMF) described the global economy as being in a “sticky spot” and projected a growth of 3.2 per cent for the current year in its World Economic Outlook Update released in July.
India’s exposure stood at $237.8 billion in May 2024, up from $233.5 billion in April and $240.6 billion in March.
Japan topped the list with securities worth over $1.11 trillion, followed by China with $780.2 billion.The United Kingdom secured the third position with $741.5 billion, while Luxembourg held the fourth spot with $384.2 billion.
India ranked 12th among countries and jurisdictions owning American government securities, with its holdings surpassing the previous year’s levels.
The top 10 holders also included Canada ($374.8 billion), Cayman Islands ($319.4 billion), Belgium ($318 billion), Ireland ($308 billion), France ($307.2 billion), and Switzerland ($287.1 billion). Taiwan secured the 11th position with an exposure of $265.9 billion.
The global economy faces uncertainties due to high inflation, geopolitical tensions, and other challenges, resulting in uneven growth patterns. The United States experienced a 2.8 per cent annual growth rate in the June quarter, surpassing the 1.4 per cent growth in the first three months of 2024. The International Monetary Fund (IMF) described the global economy as being in a “sticky spot” and projected a growth of 3.2 per cent for the current year in its World Economic Outlook Update released in July.