NEW YORK: India has invested in US debt securities worth USD 38.8 billion till May
this year, nearly four-fold rise when compared to the same month in 2008.

Even as the world's largest continued to reel under one of the worst recession in 80 years, India has been steadily increasing its exposure to American debt since May last year, when the holdings were worth just USD 10.3 billion.

According to data available with the US Treasury Department, India bought American debt worth USD 38.8 billion till May 2009. India has purchased more American debt since October 2008, when the financial turmoil turned for the worse with the failure of then Wall Street major Lehman Brothers.

India's exposure has jumped more than two-fold till May this year, in comparison with just USD 18.3 billion in October last year. Till April this year, India's holding stood at USD 38.5 billion.


India has foreign exchange reserves of more than USD 260 billion. Neighboring China continues to be the biggest buyer of American debt, with holdings worth USD 801.5 billion till May 2009. At the second spot is Japan, with holdings to the tune of USD 677.2 billion.