India’s increasing Foreign Exchange Reserve (Forex) plays a crucial role in supporting the nation’s robust economic growth in a sluggish world economic scenario. In recent years, the country has made a remarkable history by touching the highest point of Forex reserve. It has sufficient Forex accumulation to support the projected imports of the country for 11 months as per RBI. Source: https://www.livemint.com/economy/indias-forex-reserves-slightly-off-all-time-highs-decline-by-1-71-billion-to-hit-651-99-billion-11720183754792.html The Forex reserve witnessed a total accumulation of US$ 651.5 billion as of 31 st May 2024, the highest so far ever. As per RBI’s recent Balance of Payment (BOP) data, India has gained US$ 63.7 Billion in Foreign exchange Kitty in 2023-24 . India in terms of total reserves in the past few years is substantially driven by diverse components where the external industry has shown tremendous growth prospects. These accumula...