Finance Minister Nirmala Sitharaman has stated that India holds the fourth-largest foreign exchange reserve in the world. Indias forex reserve is $658.8 billion which is sufficient to cover 11 months of the countrys imports. The countries which are ahead of India in forex reserves are China Japan and Switzerland. India has a forex reserve with $658.8 billion and is at the fourth position globally. The Finance Minister shared this information in the Rajya Sabha on Tuesday. When it comes to forex reserves China is far ahead than any other country. Chinas forex reserve is a massive $3.68 trillion which is nearly six times that of India. China is the worlds second-largest economy while India ranks fifth. Japan has the second-largest forex reserve at $1.23 trillion followed by Switzerland in third place with $927 billion which is 1.5 times India’s forex reserve. Switzerland: Small in Size Switzerland has a population of only 8.8 million and an area of 41285 sq. km. This means Switzerland has a smaller population than Uttarakhand and a smaller area than Haryana. Uttarakhands population exceeds 10 million whereas Haryanas area is 44212 sq. km. Gold Reserves: Switzerland vs. India Switzerland is also ahead of India in gold reserves. Its central bank has 1040 tonnes of gold whereas the Reserve Bank of India (RBI) has 848 tonnes. Switzerlands per capita GDP is $106097 compared to Indias $2698. The Swiss economy is considered one of the most advanced in the world and has been ranking at the top of the Global Innovation Index for several years. Top 10 Countries by Forex Reserves India China Turkey and Poland have recently increased their gold holdings in forex reserves to reduce dependency on the US dollar. According to IMF data India ranks fourth in forex reserves. Here’s the list of the top 10 countries by forex reserves: China – $3.68 trillion Japan – $1.23 trillion Switzerland – $927 billion India – $658.8 billion Russia – $616 billion Hong Kong – $463 billion Saudi Arabia – $432 billion South Korea – $415 billion Germany – $387 billion Singapore – $377 billion Many countries are diversifying their reserves to increase their economic security.