News: India's net international investment deficit rises

(RTR 29/09/2006) New Delhi - India's deficit on its net international investment position widened to $46.07 billion on March 31, 2006 from $40.31 billion a year earlier due to the rise in the current account gap, the central bank said on Friday.

The net international investment position is the stock of a country's external financial assets less its stock of external liabilities.

India's total assets stood at $183.13 billion at the end of March, up from $168.9 billion a year earlier.

Liabilities, which include foreign direct and portfolio investments, were $229.20 billion at the end of March, compared with $209.22 billion a year earlier.

In a statement, the central bank said the deterioration in net position of about $6 billion during the year was attributable to the widening of the current account deficit to $10.6 billion in 2005/06 (April/March) from $5.4 billion a year earlier.