India trims US govt securities holding to $115 bn in Nov

India has reduced its exposure to US government securities to $115.4 billion in November last year even as BRIC peers China and Russia hiked their holdings during the same period. China remained the largest holder of US Treasury securities in November with exposure worth $1.265 trillion, followed by Japan at $1.145 trillion.

Latest data from the US Treasury Department showed that India's holding declined to $115.4 billion during the month, from $116.6 billion in October 2015. The reduction comes at a time when the global economy is witnessing headwinds, especially from growth concerns in China and relatively sluggish recovery in Europe as well as the US.

India's exposure had fallen to $113.5 billion in September from $115.6 billion seen in August. While India cut its exposure, Russia sharply increased its holding to $88 billion last November whereas that of Brazil remained unchanged at $255 billion compared to the October. China too raised its holding marginally.

In the three months ended December 31, the US economy grew 0.7 per cent while the GDP expansion stood at 2 per cent in July-September quarter of 2015.