The emerging nation’s investment in the US debt stood at $11.8 billion in March 2008. According to the data from the US Treasury Department, India has bought American debt instruments worth $38.2 billion till March 2009.
Interestingly, India’s exposure to US debt has surged by about $20 billion since October 2008, when the ongoing financial turmoil turned for the worse. The world’s largest economy was rattled by the then-famed Lehman Brothers filing for bankruptcy in mid-September.
Considered to be one of the safest investment bets, India had invested $18.3 billion in October 2008 in the American securities, which soared to $38.2 billion in March.
Published 24 May 2009, 16:48 IST