Continuing to purchase more US government securities, India's overall holding of such instruments climbed to $119.8 billion in January.
Notwithstanding mixed growth trends in the world's largest economy, India has been gradually hiking exposure to these securities in recent months. In January alone, India bought American government securities to the tune of $3 billion, taking the overall holding to $119.8 billion, as per the latest data from the US Treasury Department.
The total exposure stood at $116.8 billion at the end of December 2015. Last year, India's exposure rose by nearly $34 billion. In the first six months of 2015, India gradually raised exposure to $117 billion, before slightly trimming the holding to $116.4 billion in July. Then, it inched up to $116.8 billion at December end. Despite a marginal decline in its exposure, compared to December, China remained the largest holder of US government securities with holdings to the tune of $1.24 trillion in January this year, followed by Japan at $1.12 trillion.
Among the Bric nations, Brazil and Russia too raised their exposure. While the holding of Brazil touched $255.7 billion in January, that of Russia touched $96.9 billion during the same period.
Those countries, whose exposure was more than India in January, include Ireland ($252.2 billion), Switzerland $237.4 billion) and Hong Kong ($201.6 billion). The US economy grew one per cent in the three months ended December last year, compared to two per cent expansion seen in the 2015 third quarter. According to the second estimate released last month by the US Bureau of Economic Analysis, the country's real gross domestic product increased at an annual rate of one per cent in the fourth quarter of 2015.
