Rising Bharat Summit: India's forex reserve more than $700 billion, says PM Modi

In his keynote address at the News18 Rising Bharat Summit, Prime Minister Narendra Modi talked about the kind of developments undertaken by his government in the last 10 years. The PM talked about lifting 250 million people out of extreme poverty and pushing growth in the Indian economy to make it the world's fifth largest in the two terms of his government.

“In the last 10 years, 250 million people came out of poverty… we became fifth largest economy… our forex reserve is more than $700 billion,” PM Modi said in his speech.

India's forex kitty jumped by $10.47 billion to $636.095 billion for the week ended March 8, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had risen by $6.55 billion to $625.626 billion. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.