India's US securities holdings touch record $241.9B in June
India's holdings of US government securities have reached a record high of $241.9 billion in June. This figure represents a significant rise from the previous year's exposure, which stood at $235.4 billion in June 2023. The latest data released by the US Treasury Department reveals that Japan and China were top holders with securities worth over $1.11 trillion and $780.2 billion respectively, followed by UK and Luxembourg with exposures of $741.5 billion and $384.2 billion respectively, in June 2024.
India ranks 12th in global holdings of US securities
Among global nations, India secured 12th position in June with its holdings of US government securities. This figure is an increase from May's total of $237.8 billion. Other countries in the top 10 include Canada at fifth place with a holding of $374.8 billion, followed by Cayman Islands ($319.4 billion), Belgium ($318 billion), Ireland ($308 billion), France ($307.2 billion) and Switzerland ($287.1 billion). Taiwan was positioned just ahead of India at the 11th spot with an exposure worth $265.9 billion.
Global economic uncertainties persist
The global economy continues to face uncertainties due to geopolitical tensions, high inflation, and other challenges. In the June quarter, the US's real GDP grew at an annual rate of 2.8%, outpacing the 1.4% growth seen in the first three months of 2024. The International Monetary Fund (IMF) has described the current state of the global economy as precarious and forecasts a growth rate of 3.2% for this year.
