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India overtakes Russia in terms of ‘foreign exchange reserves’

On one hand, due to Corona, the economies of most countries were shaken. Many countries went into losses. And at the same time, the Modi government took several steps to keep the country’s economy better on the basis of its policies. The results of which have started showing. In fact, India has become the world’s fourth-largest foreign exchange reserve ie forex reserve, after beating Russia.

According to the Bloomberg report 

India’s neighbour China is at the forefront of this list. China has the largest foreign exchange reserves in the world.

Let us tell you that foreign debt is kept in a way to repay foreign debt in an emergency. Through this, investors and companies get the confidence that the government can repay its debt in any situation. In foreign exchange reserves

64 per cent of the country’s foreign exchange reserves are in the form of treasury bills abroad. According to the data of RBI right now

In view of self-reliant India, the government is emphasizing on reducing imports and increasing exports. Due to this, the government has started the production linked incentive ie the PLI scheme. This scheme is expected to increase the foreign exchange reserves further. This will reduce India’s import expenses and will help in increasing

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