India's holding of American securities hits high of $241.9 bln in June

New Delhi: India's holding of US government securities touched a high of USD 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 $741.5 billion ahead of Luxembourg at the fourth position with a holding to the tune of $384.2 billion.

Among the countries and jurisdictions, India was at the 12th place owning American government securities worth $241.9 billion in June, higher than $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 $237.8 billion in May 2024. In April this year, it touched $233.5 billion declining from $240.6 billion in March.

In June last year, the exposure was at $235.4 billion.

Other countries/ jurisdictions among the top 10 holders were Canada at the fifth spot 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).

At the 11th position was Taiwan with an exposure of $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.