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India’s Forex Reserves Near Record High at $701 Billion, Economic Survey Reveals
India's economy has once again demonstrated its strength. In 2024-25, the country received $135.4 billion in remittances, while foreign exchange reserves reached $701 billion.
The Indian economy has once again proved its strength. The Economic Survey states that India is not only the biggest remittance receiving country, but it has also achieved near record levels of foreign exchange reserves.
India received a total of $135.4 billion in remittances in 2024-25. Most importantly, the share of developed countries in the inflow of remittances to India is rising. This points to a substantial increase in the demand and earnings of Indian skilled and professional manpower working in these countries.
India has accumulated foreign exchange reserves of $701.4 billion as of January 16. The foreign exchange reserves can finance the country's imports for about 11 months. The reserves also account for 94% of the total outstanding foreign debt of the country.
