India forex reserves surpass Russia’s to become world’s 4th biggest
India’s foreign-exchange reserves surpassed Russia’s to become the world’s fourth-largest, as the South Asian nation’s central bank continues to hoard dollars to cushion the economy ag inst any sudden outflows.
Reserves for both countries have mostly flattened out this year after months of rapid increase. India pulled ahead as Russian holdings declined at a faster rate in recent weeks.
India’s foreign currency holdings fell by $4.3 billion to $580.3 billion as of March 5, the Reserve Bank of India said on Friday, edging out Russia’s $580.1 billion pile. has the largest reserves, followed by Japan and Switzerland on the International Monetary Fund table.
India’s reserves, enough to cover roughly 18 months of imports, have been bolstered by a rare current-account surplus, rising inflows into the local stock market and foreign direct investment.
Analysts say a strong reserves position gives foreign investors and credit rating companies added comfort that the go nment can meet its de t obligations despite a deteriorating fiscal outlook and the economy heading for its first full-year contraction in more than four decades.
This was 235 billion usd when nda came to power in 2014 and now 580 billion usd more than 140 % growth
Rahul gandhi:If i become PM this money could be used to safeguard my family for decades
stand ag inst has helped india as a safe destination for FDI
If not for economy dge done by Covid, Jihadis , Hindustan would have become Developed Country by Now. Anyway Present BJP go nment doing great work in Job creation, Infrastructure development ,Business Economy ,health care. keep it up
Good goimg but a lot more to do we have to keep working hard a good leadership and hard working smart citizens will put india close to top of the list well done.
Nothing won’t help till population control bill gets passed
gold , ronics,oil these three are our biggest import it we reduce them ,we could become a current account surplus economy like .
Gold is Ok as it increases weakth but oil creasted polution and fdi drain so does imported ronics.
we are blessed with a highly dedicated prime minister during the pandemic who converted this situation also into opportunity by encouraging pharma industry and also the other manufacturing industries.
and also to decrease the import and increase forex reserve he encouraged ric vehicles
No doubt within one or two years we wii have highest forex reserves
The next super power.
People still urinate on the street.
Next super power
SWITZERLAND IS IN THE TOP THREE ONLY BECAUSE OF THE ILLEGAL BILLIONS OF DOLLARS IT RECEIVES FROM THE WORST ECONOMIC OFFENDERS IN THE WORLD. RATHER THAN A MATTER OF PRIDE, IT SHOULD BE A MATTER OF SHAME
India can be #1 if the money stashed by Po iticos abroad is brought back, Resort splurges, ill-gotten funds & properties are recovered, Radical elements are dealt firmly & Reforms across all Sectors are done for economic stability.
Well Pakistan is also doing very well. THey have THREE billion dollars in reserves...one billion each from Saudi, UAE and . Don't underestimate our neighbors powers to be biggest bhikhari in history of mankind!
current prime Minister = Modi
after Modi pm = amit shah
after amit shah = yogi
Indias future secure and in safe hands
That means just imagine how much resources the Italian woman has siphoned off from India during her rule.
Don't let congi know this.. They will ask some foriegn celeb to tweet that india has stolen dollars