US Treasury securities attributed to India$186 billion
June 2026
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India in the world
Trade, remittances, capital, exchange rates, migration and scorecards show what crosses India’s borders and how the world measures it.
Reserves
India held $717 billion in foreign exchange reserves
+3.1% from the comparable week a year earlier, as of 14 August 2026.
$717 billion
Foreign exchange reserves · 14 August 2026
Source: Reserve Bank of India, India Dispatch Research
US Treasury holdings attributed to India stood at $186 billion in June 2026
The US series is based largely on custodians and does not precisely identify the ultimate owner. The RBI’s separate forward-dollar position is shown below on its own monthly clock.
RBI dollar purchases$22.2 billionMay 2026
RBI dollar sales$28.3 billionMay 2026
Outstanding net forward position−$107 billionnegative means net forward sales
Source: Reserve Bank of India and US Department of the Treasury, India Dispatch Research
Foreign money
India received $151 billion in remittances in 2025, 3.9 times net foreign direct investment
Both series are annual and shown in current US dollars.
Remittances received$151 billion
2025
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Net FDI inflows$39.1 billion
2025
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Source: World Bank, India Dispatch Research
Software exports
Software-services exports reached $205 billion in 2024–25
The same exports were worth ₹17.31 trillion. The series excludes sales delivered through companies’ overseas commercial presence.
Software-services exports$205 billion₹17.31 trillion
2024–25
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Source: Reserve Bank of India, India Dispatch Research
India received 2.4% of global foreign direct investment inflows in 2025
$38.9 billion entered India as FDI. Separately, announced greenfield projects totalled $110 billion. Announcements are not realised investment.
FDI inflows$38.9 billion
2025
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Share of world inflows2.4%
2025
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Announced greenfield projects$110 billion2024
Change from a year earlier+28%announced capital expenditure
Source: United Nations Trade and Development, India Dispatch Research
India imported $216.16 billion and exported $129.52 billion through June 2026–27
Imports exceeded exports by $86.64 billion over the same period.
Completed-year exports$438 billion
2025–26
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Completed-year imports$721 billion
2025–26
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Trade balance−$284 billion
2025–26
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Source: Department of Commerce, India Dispatch Research
United States was India’s largest export market and China its largest import source through June 2026–27
Export and import rankings are kept separate because the two lists measure different directions of trade.
Largest export destinations
| Country | Value | Share |
|---|---|---|
| United States | $25.5 billion | 19.7% |
| United Arab Emirates | $7.95 billion | 6.1% |
| Singapore | $6.5 billion | 5% |
| China | $5.59 billion | 4.3% |
| Netherlands | $4.52 billion | 3.5% |
| United Kingdom | $3.69 billion | 2.8% |
| South Africa | $3.15 billion | 2.4% |
| Germany | $3.1 billion | 2.4% |
| Bangladesh | $3.06 billion | 2.4% |
| Tanzania | $2.91 billion | 2.2% |
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Largest import sources
| Country | Value | Share |
|---|---|---|
| China | $38 billion | 17.6% |
| Russia | $25.6 billion | 11.8% |
| United States | $16.7 billion | 7.7% |
| United Arab Emirates | $15 billion | 7% |
| Saudi Arabia | $7.56 billion | 3.5% |
| South Korea | $6.82 billion | 3.2% |
| Singapore | $6.58 billion | 3% |
| Japan | $5.92 billion | 2.7% |
| Germany | $5.38 billion | 2.5% |
| Hong Kong | $5.15 billion | 2.4% |
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Source: Department of Commerce, India Dispatch Research
India’s merchandise imports from China were 8 times its exports by value in 2025–26
Imports were $113 billion and exports were $14.3 billion. Imports exceeded exports by $99.2 billion.
Imports$113 billion
2025–26
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Source: Department of Commerce, India Dispatch Research
The rupee against the world
The real rupee index is 10% below its 2020 base
The real index adjusts for relative prices while the nominal index tracks currencies alone. Both are broad monthly BIS indices with 2020 equal to 100.
Real effective exchange rate90.37
July 2026
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Nominal effective exchange rate81.08
July 2026
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Source: Bank for International Settlements, India Dispatch Research
India’s fertility rate fell below two births per woman in 2024
The latest estimate was 1.96 births per woman. India’s population was 1.45 billion. People aged 15 to 64 made up 68.2% of the population.
Population1.45 billion
2024
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Fertility rate1.96
births per woman
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Source: World Bank, India Dispatch Research
Indians overseas
363,019 Indian students were enrolled in the US in 2024–25
18.53 million India-born people lived abroad in 2024. Each series retains its own publication year.
Indian students in the US363,019
2024–25
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India-born people abroad18.53 million
2024
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Source: IIE Open Doors and United Nations Department of Economic and Social Affairs, India Dispatch Research
Foreign institutions
The IMF forecasts 6.4% growth in 2026
The forecast table and the human-development history below are separate measures from separate institutions.
| Fiscal year | Growth |
|---|---|
| 2026 | 6.4% |
| 2027 | 6.7% |
Human Development Index0.685
Rank 130 in 2023
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Source: International Monetary Fund and United Nations Development Programme, India Dispatch Research
Public scorecards
India’s innovation rank improved 1 place to 38 in 2025
Governance scores run from 0 to 100 and are perception-based. A smaller innovation rank is better. Neither is a direct measure of output.
Worldwide Governance Indicators2024
Score out of 100
| Dimension | Latest | 5 years ago | 10 years ago |
|---|---|---|---|
| Voice and accountability | 55.5 | 58.8 2019 | 61.5 2014 |
| Political stability | 52.5 | 55.8 2019 | 51.9 2014 |
| Government effectiveness | 59.2 | 61.2 2019 | 51.1 2014 |
| Regulatory quality | 53.3 | 53.3 2019 | 48.9 2014 |
| Rule of law | 56.3 | 56.6 2019 | 54.1 2014 |
| Control of corruption | 41.9 | 43.4 2019 | 39.5 2014 |
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| Year | Rank |
|---|---|
| 2020 | 48 |
| 2021 | 46 |
| 2022 | 40 |
| 2023 | 40 |
| 2024 | 39 |
| 2025 | 38 |
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Source: World Bank and World Intellectual Property Organization, India Dispatch Research
Strategic position
India’s measured volume of arms imports was 1.17 billion trend-indicator units in 2024
SIPRI’s trend-indicator value is a common measure of transfer volume, not a price or dollar amount.
Arms imports1.17 billion TIV
2024
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Source: World Bank and Stockholm International Peace Research Institute, India Dispatch Research