Record Forex Reserves Strengthen India’s Economic Resilience Against Global Shocks, Says Nirmal K. Minda, ASSOCHAM President
NEW DELHI (India CSR): ASSOCHAM has welcomed India’s foreign exchange reserves reaching a record high of USD 740.80 billion as of August 28, 2026, describing the position as a reflection of the country’s robust external sector and strengthening confidence in the Indian economy. According to the industry body, the reserves increased by USD 11.48 billion during the week, marking the ninth consecutive weekly rise. Foreign Currency Assets, the largest component of the reserves, crossed the USD 600 billion mark after rising by USD 9.34 billion over the previous week. Gold reserves, the second-largest component of India’s foreign exchange reserves, stood at USD 116.41 billion, ASSOCHAM said.
Ninth Weekly Rise
The sustained increase in reserves has taken India’s foreign exchange stock to its highest recorded level, according to ASSOCHAM. The body said the growth in Foreign Currency Assets was the principal contributor to the weekly rise. Foreign Currency Assets form the largest part of India’s overall forex reserves. Their crossing of the USD 600 billion milestone came during a week in which total reserves rose by USD 11.48 billion.
External Sector Cushion
ASSOCHAM President Nirmal K. Minda said the record accumulation of foreign exchange reserves provides India with a strong cushion against global economic uncertainties and external shocks. “A robust forex position will contribute to greater currency stability, strengthen macroeconomic resilience, support economic growth and enhance investor confidence,” Minda said. He said the reserve position also improves India’s capacity to manage external financing requirements and strengthens the country’s global financial standing.
Policy Space Available
ASSOCHAM said the higher reserve level enhances India’s international competitiveness and gives policymakers greater space to navigate volatility in global financial markets, commodity prices and capital flows. The industry body said the record reserve position underlines the country’s ability to manage external-sector requirements amid changing global financial conditions.
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