evidence: India, the world’s fastest growing major economy, has become the fourth economy in the world to surpass $700 billion in foreign reserves, joining China, Japan, and Switzerland The third largest Asian economy’s forex reserves have crossed the $700 billion mark for the first time, increasing by $12.6 billion during the week ended September 27, according to data released by the Reserve Bank of India (RBI). With this milestone, India becomes the fourth economy in the world to surpass $700 billion in foreign reserves, joining China, Japan, and Switzerland.