India International Investment Position Q4 2025

RBI Press Releases

Published March 30th, 2026

Detected March 31st, 2026

Summary

The Reserve Bank of India released Q4 2025 International Investment Position data showing India's net claims of non-residents declined by $10.9 billion to $260.5 billion. The assets-to-liabilities ratio improved to 82.1% from 81.4% in Q3 2025 and 74.6% a year ago, while reserve assets stood at $687.7 billion.

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What changed

The RBI published quarterly International Investment Position statistics for end-December 2025. India's net claims on non-residents fell to $260.5 billion, driven by a $12.8 billion increase in overseas financial assets (primarily outward direct investment of $7.6 billion and currency/deposits of $9.4 billion), partially offset by a $1.9 billion rise in foreign-owned assets in India. Reserve assets declined $12.4 billion sequentially to $687.7 billion but rose 8.2% year-on-year. The share of debt liabilities in total external liabilities increased to 55.3%.

This is a statistical data release with no compliance implications for regulated entities. Financial institutions and investors may use these figures for balance of payments analysis and cross-border investment trend monitoring. No action is required. The next quarterly release will follow standard publication schedules with a one-quarter lag.

Source document (simplified)

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March 30, 2026 India’s International Investment Position (IIP), December 2025 Today, the Reserve Bank released data relating to India’s International Investment Position for end-December 2025. [1] Key Features of India’s IIP in end-December 2025:

Net claims of non-residents on India declined by US$ 10.9 billion from end-
September 2025 and stood at US$ 260.5 billion as at end-December 2025, driven by relatively higher rise in Indian residents’ overseas financial assets (US$ 12.8 billion) as compared to increase in the foreign-owned assets in India (US$ 1.9 billion) (Table 1).
Accordingly, the ratio of India’s international assets to international liabilities
continued to improve to 82.1 per cent as at end-December 2025 from 81.4 per cent in the previous quarter and 74.6 per cent a year ago (Chart 1 & Table 1).
Indian residents’ overseas financial assets increased during the quarter, primarily
led by rise in outward direct investments (US$ 7.6 billion) and currency and deposits (US$ 9.4 billion).
Reserve assets, accounting for 57.4 per cent share in the total overseas financial
assets of Indian residents, declined by US$ 12.4 billion from the previous quarter and stood at US$ 687.7 billion as at end-December 2025. However, on annual basis, it rose by 8.2 per cent (Table 2).
On liability side, decline in inward direct investment (US$ 3.2 billion) and portfolio
investment (US$ 2.8 billion) was offset by increase in trade credit (US$ 11.4 billion) under other investment, resulted in marginal sequential increase (0.1 per cent) in foreign-owned assets in India as on end-December 2025.
With the decline in equity investment along with the rise in debt investment, the
share of debt liabilities in total external liabilities increased to 55.3 per cent as at end-December 2025 from 54.8 per cent a quarter ago (Table 3).

(Brij Raj) Press Release: 2025-2026/2353 Chief General Manager

India’s quarterly IIP is disseminated with a lag of one quarter and the previous quarterly IIP for end-September 2025 [1] was released in the RBI website on December 31, 2025.

󰲐󰫦󰰚 󰭈󰭈 PRESS RELEASE : : Mumbai - 400 001/Phone: 022 - 2266 0502   , RESERVE BANK OF INDIA  ,Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,

Table 1: Overall International Investment Position of India

(US$ billion)

Period

21.6 22.0 22.7 22.7 22.7

Notes (applicable for all tables):

P: Provisional; PR: Partially Revised.
The sum of the constituent items may not add to the total due to rounding off. 3.5 Special drawing rights (Net incurrence of Dec-25 Mar-25 Jun-25 Sep-25 Dec-24 1.1 Equity and investment fund shares 2.1 Equity and investment fund shares 2.2 Debt securities 3.2 Loans 3.3 Currency and Deposits 1. Direct Investment 2. Portfolio Investment 2.1 Equity and investment fund shares 3.1 Trade Credits 3.2 Loans 193.1 559.0 255.9 130.1 146.4 259.9 173.6 557.0 272.0 141.9 131.2 250.5 179.7 187.2 10.1 26.8 90.2 571.2 562.2 272.5 258.7 147.4 133.0 131.1 135.0 260.3 258.5 166.5 547.2 276.5 155.6 135.6 240.6 10.3 27.1 80.4 13.1 12.5 6.4 25.6 25.8 83.6 80.8 23.4 69.6 5.1 3.2 4.1 9.2 2.8 1.2 Debt instruments 3.1 Trade Credits 3.4 Other Assets 1.1 Equity and investment fund shares 1.2 Debt instruments 2.2 Debt securities 3. Other Investment 3.3 Currency and Deposits 3.4 Other Liabilities 103.4 522.2 125.8 643.6 173.9 522.0 130.1 634.1 167.6 101.7 34.5 45.8 535.4 525.8 36.8 125.1 125.7 646.0 635.7 171.7 168.9 40.7 513.0 120.9 611.0 165.7 96.9 33.7 38.6 35.0 62.8 99.8 33.7 31.9 40.3 41.1 35.8 36.4 60.2 50.6 94.3 33.3 36.0 34.2 47.5 1. Direct Investment B. Liabilities Memo Item: Assets to Liability ratio (%) 1458.5 1463.1 296.5 1489.7 1456.6 1434.7 270.5 279.5 288.9 82.1 260.8 77.5 79.0 81.4 74.6 Net IIP (A-B) A. Assets 2. Portfolio Investment 3. Other Investment4. Reserve Assets 1198.0 -260.5 1134.0 1177.1 1185.2 197.3687.7 -329.1 -312.6 -271.4 1070.8 179.8668.3 16.5 183.2179.6698.1 700.1 -363.9 162.3 635.7 15.4 16.3 16.6 12.0 liabilities) (PR) (PR) (PR) (P) (PR) Position as at end of

Table 2: Composition of International Financial Assets and Liabilities of India (per cent) Period

Table 3: Share of External Debt and Non-Debt Liabilities of India (per cent) Period

Mar-25 Jun-25 Sep-25 Dec-Dec-24

Direct Investment 2. Portfolio Investment 3. Other Investment 4. Reserve Assets 1. Direct Investment 2. Portfolio Investment 3. Other Investment Non-Debt Liabilities Debt Liabilities 24.7 16.5 57.4 38.3 17.6 44.1 23.7 15.6 59.3 38.3 18.3 43.4 23.8 15.9 58.9 38.1 18.6 43.3 24.4 1.4 15.1 59.1 38.6 17.8 43.6 1.4 1.4 1.4 24.4 15.1 59.4 38.1 19.3 42.6 1.1 46.6 45.4 45.8 45.2 44.7 53.4 54.6 54.2 54.8 55.3 Total 100.0 100.0 100.0 100.0 100.0 A. Assets B. Liabilities Total Total 25 (P) (PR) 100.0 (PR 100.0 100.0 (PR) (PR) 100.0 100.0 100.0 100.0 100.0 100.0 100.0 Position as at end of Position as at end of Dec-24 (PR) Mar-25 (PR) Jun-25 (PR) Sep-25 (PR) Dep-25 (P)