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Foreign-exchange reserves act as the first line of defense for India in case of economic slowdown, but acquisition of reserves has its own costs.<ref>{{cite web|url=http://www.businessworld.in/article/Costs-Involved-In-Increasing-Forex-Reserves-RBI/25-02-2015-79407/|title=Costs Involved in Increasing Forex Reserves: RBI}}</ref> Foreign exchange reserves facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India.<ref>{{Cite web|url=https://www.rbi.org.in/Scripts/AboutusDisplay.aspx#MF|title=RBI}}</ref> | Foreign-exchange reserves act as the first line of defense for India in case of economic slowdown, but acquisition of reserves has its own costs.<ref>{{cite web|url=http://www.businessworld.in/article/Costs-Involved-In-Increasing-Forex-Reserves-RBI/25-02-2015-79407/|title=Costs Involved in Increasing Forex Reserves: RBI}}</ref> Foreign exchange reserves facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India.<ref>{{Cite web|url=https://www.rbi.org.in/Scripts/AboutusDisplay.aspx#MF|title=RBI}}</ref> | ||
India's total foreign exchange (Forex) reserves stand at around US$633.558 Billion on 27 August 2021, the highest ever, with the Foreign Exchange Assets (FCA) component at around US$571.660 Billion, Gold Reserves at around US$37.441 Billion, SDRs (Special Drawing Rights with the IMF) of around US$19.407 Billion and around US$5.110 Billion Reserve Position in the [[IMF]], as per Reserve Bank of India's (RBI) weekly statistical supplement published on | India's total foreign exchange (Forex) reserves stand at around US$633.558 Billion on 27 August 2021, the highest ever, with the Foreign Exchange Assets (FCA) component at around US$571.660 Billion, Gold Reserves at around US$37.441 Billion, SDRs (Special Drawing Rights with the IMF) of around US$19.407 Billion and around US$5.110 Billion Reserve Position in the [[IMF]], as per Reserve Bank of India's (RBI) weekly statistical supplement published on 3 September 2021.<ref>https://m.rbi.org.in/Scripts/WSSView.aspx?Id=23824</ref> The [[Economic survey of India]] 2014-15 said India could target foreign exchange reserves of US$750 Billion-US$1 Trillion.<ref>{{cite web|title=RBI Monetary Policy $1 trillion forex reserves: A pipe dream |url=http://www.business-standard.com/article/finance/rbi-monetary-policy-1-trillion-forex-reserves-a-pipe-dream-115040300661_1.html}}</ref> | ||
India's foreign exchange reserves are mainly composed of [[US dollar]] in the forms of US [[government bonds]] and [[institutional bonds]].<ref>{{cite web|title=Major foreign holders of treasury securities of USA|url=https://ticdata.treasury.gov/Publish/mfh.txt|access-date=22 January 2021}}</ref><ref>[http://www.bis.org/review/r020510f.pdf Y V Reddy: India’s foreign exchange reserves – policy, status and issues – May 10, 2002]</ref> with nearly 5.91% of forex reserves in gold. The FCAs also include investments in US Treasury bonds, bonds of other selected governments and deposits with foreign central and commercial banks. As of September 2021, India holds fourth largest [[List of countries by foreign-exchange reserves|foreign-exchange reserves in the world]] following [[Switzerland]].<ref name="ranking">{{cite web|url=http://www.dnaindia.com/money/column-surging-forex-reserves-to-help-improve-economic-outlook-2069433|title=Surging forex reserves to help improve economic outlook}}</ref><ref>{{cite web|url=https://www.forbes.com/sites/kenrapoza/2015/04/04/look-how-rich-indias-become-under-new-prime-minister-modi/|title=Look How Rich India's Become Under New Prime Minister Modi}}</ref> | India's foreign exchange reserves are mainly composed of [[US dollar]] in the forms of US [[government bonds]] and [[institutional bonds]].<ref>{{cite web|title=Major foreign holders of treasury securities of USA|url=https://ticdata.treasury.gov/Publish/mfh.txt|access-date=22 January 2021}}</ref><ref>[http://www.bis.org/review/r020510f.pdf Y V Reddy: India’s foreign exchange reserves – policy, status and issues – May 10, 2002]</ref> with nearly 5.91% of forex reserves in gold. The FCAs also include investments in US Treasury bonds, bonds of other selected governments and deposits with foreign central and commercial banks. As of September 2021, India holds fourth largest [[List of countries by foreign-exchange reserves|foreign-exchange reserves in the world]] following [[Switzerland]].<ref name="ranking">{{cite web|url=http://www.dnaindia.com/money/column-surging-forex-reserves-to-help-improve-economic-outlook-2069433|title=Surging forex reserves to help improve economic outlook}}</ref><ref>{{cite web|url=https://www.forbes.com/sites/kenrapoza/2015/04/04/look-how-rich-indias-become-under-new-prime-minister-modi/|title=Look How Rich India's Become Under New Prime Minister Modi}}</ref> | ||