India now holds forth largest foreign exchange reserves
Amit Joshi, Mumbai
Mar. 17, 2021

At $580.3 billion as of March 5, India’s foreign exchange holdings os only lower than three countries in the world - China, Japan and Switzerland. The spectacular rise is the result of rising inflows into the local stock market, and foreign direct investment.

The strong Forex reserves position gives foreign investors and credit-rating companies added confidence that the government can meet its debt obligations. India is poised to grow by a stellar 11% in fiscal 2022.

The massive Forex build up provides India the strength to withstand any external monetary of fiscal shock that can cause capital-stop or outflows in the period ahead.


 

 

 

 

 

 


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