Continuing to increase its exposure to US government bonds, India's holding of such securities touched a new high of $117 billion in June, amid mixed global economic trends. India has purchased nearly $45 billion worth such securities in the first six months of this year.
In June, China continued to have the maximum exposure with holdings worth over $1.27 trillion, followed by Japan ($1.19 trillion). Since <g data-gr-id="25">start</g> of this year, India has been steadily hiking its exposure, which stood at $91.2 billion in January.
At the end of 2014, the holdings were worth $72.4 billion. Latest data from the US Treasury Department showed that India's holdings rose to $117 billion in June from $114 billion recorded in May.
Among the BRIC grouping, only Brazil trimmed its holdings in June to $256.3 billion while Russia's rose to $72 billion. China too marginally increased its exposure during the same period.
The United States, also the world's largest economy, saw its GDP grow 2.3 <g data-gr-id="22">per cent</g> in the three months ended June.
"Real gross domestic product -- the value of the production of goods and services in the US, adjusted for price changes -- increased at an annual rate of 2.3 <g data-gr-id="26">per cent</g> in the second quarter of 2015," according to advance estimate released by the US Bureau of Economic Analysis last month.
Meanwhile, <g data-gr-id="23">global</g> economy is witnessing uncertain times and there are rising concerns about Chinese economic health while Europe is seeing a fragile recovery.