WASHINGTON: Continuing to increase its exposure to US government securities, India's holdings rose to $107.7 billion at the end of March this year.

The holding level is at a new one-year high after it had crossed the $100 billion mark in February.

Latest data from the US Treasury Department shows that India purchased additional securities worth $6 billion in March, taking its total exposure to $107.7 billion.

India's exposure of American government securities has been on an upward trajectory since the Modi government came to power in May last year.

In May 2014, the holding stood at $70.1 billion. At the end of March this year, China was the biggest holder with securities worth $1.261 trillion, followed by Japan that had an exposure of $1.227 trillion.

Among the BRIC (Brazil, Russia, India, China) grouping, India is the third largest holder of US government securities. Russia's exposure stood at $69.9 billion.

According to the Treasury Department, foreign residents increased their holdings of long term American securities in March and net purchases were $31.2 billion.

Net purchases by private foreign investors were $49.1 billion, while net sales by foreign official institutions were $17.8 billion, it said in a recent statement.

"Foreign residents increased their holdings of US Treasury bills by $21.4 billion. Foreign resident holdings of all dollar-denominated short-term US securities and other custody liabilities increased by $13.1 billion," it added.

US economic growth has declined by 0.7 per cent in the first three months of 2015, as per the second estimate from the Bureau of Economic Analysis.

In the fourth quarter of 2014, real GDP had increased 2.2 per cent.

