India’s holding is the highest in the last one year and it was at $237.8 billion in May 2024. (Representative image)
Japan was the top holder with securities worth over $1.11 trillion, followed by China at the second spot with a holding valued at $780.2 billion in June.
India’s holding of US government securities touched a high of $241.9 billion in June as the country continued to increase its exposure for the third straight month. Japan was the top holder with securities worth over $1.11 trillion, followed by China at the second spot with a holding valued at $780.2 billion in June, according to the latest data released by the US Treasury Department.
At the third place was the United Kingdom with an exposure of USD 741.5 billion ahead of Luxembourg at the fourth position with a holding to the tune of USD 384.2 billion.
Among the countries and jurisdictions, India was at the 12th place owning American government securities worth USD 241.9 billion in June, higher than USD 237.8 billion value recorded in May.
As per the data, India’s holding is the highest in the last one year and it was at USD 237.8 billion in May 2024. In April this year, it touched USD 233.5 billion declining from USD 240.6 billion in March.
In June last year, the exposure was at USD 235.4 billion.
Other countries/ jurisdictions among the top 10 holders were Canada at the fifth spot with a holding of USD 374.8 billion, followed by Cayman Islands (USD 319.4 billion), Belgium (USD 318 billion), Ireland (USD 308 billion), France (USD 307.2 billion) and Switzerland (USD 287.1 billion).
At the 11th position was Taiwan with an exposure of USD 265.9 billion.
The global economy is witnessing uncertain times amid high inflation, geopolitical tensions and other challenges. There is an uneven growth pattern and in the June quarter, the real GDP in the United States expanded at an annual rate of 2.8 per cent, higher than 1.4 per cent seen in the first three months of 2024.
In its World Economic Outlook Update issued in July, the International Monetary Fund (IMF) said the global economy is in a sticky spot and projected a growth of 3.2 per cent for this year.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
