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Net claims of non-residents on India rose by US$ 16.5 billion during Q1:2026-27, reaching US$ 220.3 billion as at end-June 2026. This expansion was primarily driven by a US$ 11.6 billion increase in external liabilities, counterbalanced by a US$ 4.9 billion reduction in foreign-owned assets.
India’s external assets-to-liabilities ratio decreased to 84.6 per cent in June 2026, retreating from 85.7 per cent in the preceding quarter.
The augmentation in Indian residents' foreign liabilities was primarily driven by a rise in direct investment amounting to US$ 15.7 billion and other investment totaling US$ 4.2 billion, offsetting a contraction in portfolio equity investments.
India’s international financial assets were comprised of reserve assets representing 55.1 per cent, with overseas direct investment constituting greater than one fourth of the total.
Debt obligations constituted a growing proportion of aggregate external liabilities in recent quarters, reaching 56.9 per cent as of June 30, 2026.
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