Indicating an upswing in India-US economic relations and growing investor confidence in the United State’ economy, India’s exposure to United States government securities reached a one-year high of $79.7 billion in July, an increase of about $21 billion since last.
Investments in these treasury securities have increased since the new government under Narendra Modi took over the reins in New Delhi. They have also been bolstered reports of US GDP expansion of 4.6 percent in the last quarter of 2014.
“Real GDP increased 4.6 per cent in the second quarter, after decreasing 2.1 per cent in the first,” observed the US Department of Commerce in a statement on September 27.
This upturn in the percent change in real GDP primarily reflected rise in exports and in private inventory investment, among others, it had said.
Investments from India have jumped by over $ 10 billion from April this year.
India’s Prime Minister Narendra Modi will meet with US President Barack Obama in Washington on September 29 to discuss ways of enhancing bilateral investments.
India’s investment in the American security bonds, however, is still low compared with other BRICS nations. Data from the US Treasury Department show that India’s holdings at $79.7 billion were the fourth highest among BRICS grouping in July.
China’s had a $1.264 trillion exposure in July, followed by Brazil at $258.6 billion and Russia with $114.5 billion worth holdings.
South Africa came in fifth with investments in US government securities worth $11.9 billion.
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