India Reserves in Months of Imports
Total reserves in months of imports FI.RES.TOTL.MO
India's reserves in months of imports was 5.2 in 2025, ranked 45th globally. This represents a 30.2% decrease from 2024. Data from World Bank, covering 1975–2025.
Overview
India's reserves in months of imports stood at 5.2 in 2025, a decline of +2.3 from 2024. Based on recent trends, this figure is projected to reach 5.2 by 2025. India ranked 45th globally.
India's foreign exchange reserves in relation to its imports have shown a mixed trend over the past five decades, with the country experiencing both periods of surplus and scarcity. The reserves in months of imports, a key indicator of a country's ability to meet its short-term import needs, peaked at 12.93 in 2020, following a significant increase in foreign exchange reserves. However, this was preceded by a trough of 2.04 in 1990, highlighting the country's vulnerability to external shocks. As of 2025, India's reserves stand at 5.25 months of imports, ranking 45th globally and placing it closely behind countries such as Cabo Verde, which has 5.35 months of imports. The relatively stable position of India's foreign exchange reserves suggests a reduced risk of import shortages, but a decline in foreign investment or a sharp increase in oil prices could alter this trajectory, potentially leading to a decrease in the country's reserve adequacy.
Data & projection
| Year | Reserves in Months of Imports | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 2.7 | - | - |
| 2026* trend | 4.0 | - | - |
| 2025* trend | 5.2 | - | - |
| 2025 | 5.2 | −2.3 | #45 |
| 2024 | 7.5 | −0.5 | #18 |
| 2023 | 8.0 | +1.0 | #21 |
| 2022 | 7.0 | −2.8 | #27 |
| 2021 | 9.8 | −3.1 | #21 |
| 2020 | 12.9 | +4.7 | #18 |
| 2019 | 8.3 | +1.4 | #23 |
| 2018 | 6.9 | −1.3 | #33 |
| 2017 | 8.2 | −0.3 | #28 |
| 2016 | 8.4 | +0.4 | #28 |
| 2015 | 8.0 | +1.4 | #26 |
| 2014 | 6.6 | +0.6 | #31 |
| 2013 | 6.0 | +0.1 | #42 |
| 2012 | 5.9 | −0.3 | #41 |
| 2011 | 6.2 | −1.6 | #35 |
Detected Pattern
Analysis
India matched the Fiscal Dominance Trap pattern in 2010. Historically, 72% of countries showing this pattern (278 out of 386) saw reserves in months of imports improve within 24 months. View full analysis →
Frequently Asked Questions
India's reserves in months of imports was 5.2 in 2025. Ranked 45th globally. This represents a 30.2% decrease from the previous year.
India's reserves in months of imports peaked at 12.9 in 2020.
The lowest reserves in months of imports in India was 2.0 in 1990.
India ranks 45th globally in reserves in months of imports as of 2025.
The World Bank indicator code is FI.RES.TOTL.MO. Data sourced from World Bank.
India's reserves in months of imports is projected to reach 5.2 by 2025 based on trend extrapolation.
The reserves in months of imports of India in 2025 was 5.2. This ranks 45th in the world.
Cite this page
@misc{historysaid_india_reserves-months-imports,
title = {India Reserves in Months of Imports},
url = {https://historysaid.com/india/reserves-months-imports/},
publisher = {HistorySaid},
year = {2026}
}