India hikes US govt securities holdings to $116.6 billion in October
Washington: Increasing its exposure, India held the US government securities worth USD 116.6 billion in October amid the world's largest economy seeing stronger signs of recovery. India hiked its holding of these securities by little over USD 3 billion in October from USD 113.5 billion recorded in September.
In October, neighbouring China remained the largest holder with American government securities worth USD 1.255 trillion, followed by Japan with holdings valued at USD 1.149 trillion. Latest data from the US Treasury Department showed that India owned securities worth USD 116.6 billion in October after trimming its holdings in the previous two months. This is also the second highest level after the holdings touched USD 117 billion in June.
Among the BRIC grouping, India was at the third position after China and Brazil (USD 255 billion). Russia's holdings of the US government securities steeply declined to USD 82 billion in October. In the three months ended September, the United States' real gross domestic product rose two per cent.
"The increase in real GDP in the third quarter primarily reflected positive contributions from personal consumption expenditures, non-residential fixed investment, state and local government spending, residential fixed investment, and exports that were partly offset by a negative contribution from private inventory investment," the US Bureau of Economic Analysis said last week.
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