<h1>India Ranks 5th Globally in Forex Reserves with $609 Billion, Ensuring Strong Import Cover and Economic Stability.</h1> India has become the fifth largest holder of foreign exchange reserves globally, with $608.99 billion as of June 25, 2021, following China, Japan, Switzerland, and Russia. The Minister of State for Finance reported this in response to a parliamentary question, highlighting that the reserves provide an import cover of over 18 months, offering protection against external shocks. The Reserve Bank of India (RBI) actively diversifies these reserves through forex market operations, gold acquisition, and exploring new markets. The increase in reserves is attributed to a balance of payments surplus, with net capital inflows surpassing the current account deficit.