Foreign Tax Credit NRIs: Avoid Double Tax in India

If you’re an NRI earning income in India while living in the United States, you’ve likely faced a frustrating reality: both countries want to tax the same money. Interest from your NRE account, dividends from Indian stocks, rental income from property in Mumbai—all of it gets taxed in India through TDS, and then the IRS expects you to report and pay tax on that same income again. This double taxation scenario affects hundreds of thousands of NRIs every year, and many end up overpaying taxes simply because they don’t understand the relief mechanisms available to them.

The Foreign Tax Credit (FTC) is the IRS-approved mechanism that prevents this double taxation nightmare. By claiming taxes you’ve already paid to India as a credit against your US tax liability, you avoid paying twice on the same income. The credit works dollar-for-dollar, meaning every rupee of Indian tax you paid (converted to dollars) directly reduces what you owe the IRS. Yet many NRIs either don’t know about this credit or find Form 1116 intimidating enough to skip it entirely—leaving thousands of dollars on the table every year.

This comprehensive guide walks you through everything you need to know about claiming the Foreign Tax Credit as an NRI: how the credit works mechanically, when to use it versus DTAA treaty benefits, how to fill out Form 1116 step by step, which types of Indian income qualify, how to calculate your credit limitation, and the critical mistakes that trigger IRS scrutiny. Whether you have a simple NRO fixed deposit or a complex portfolio of rental properties and investments, this guide provides the clarity you need to optimize your cross-border tax situation.

What is Double Taxation and Why Does It Affect NRIs?

Double taxation occurs when two different countries impose taxes on the same income earned by the same taxpayer. For NRIs living in the United States, this happens because of fundamentally conflicting tax residency rules between the US and India. The collision of these two tax systems creates a situation where without proper planning, you could end up paying significantly more tax than legally required.

The United States operates on a worldwide taxation system, meaning it taxes its residents—including Green Card holders, H-1B visa holders who meet the substantial presence test, and US citizens—on their global income regardless of where that income is earned. Every rupee of interest from your Indian bank account, every dividend from your Indian stock portfolio, and every rental payment from your Mumbai apartment is reportable to the IRS. The US doesn’t care that the income was earned in India; if you’re a US tax resident, it’s taxable in the US.

India, meanwhile, taxes NRIs on income that arises or accrues within India. This includes interest from Indian bank accounts (NRE accounts are exempt, but NRO accounts are not), dividends from Indian companies, rental income from Indian property, and capital gains from selling Indian assets. India collects this tax primarily through TDS (Tax Deducted at Source)—the bank or payer withholds tax before you even receive the money. So by the time you see your NRO interest credited, India has already taken its 30% cut.

Consider a concrete example: You’re on an H-1B visa with an NRO fixed deposit earning ₹200,000 in annual interest. India deducts 30% TDS—₹60,000—before crediting your account. When you file your US tax return, you must report the full ₹200,000 (converted to dollars) as taxable interest income. If you’re in the 24% US tax bracket, that’s another $576 in US tax on top of the $720 you already paid to India. Without relief mechanisms, you’ve paid $1,296 in total tax on income that would have been taxed at only $720 had it been earned entirely in the US. Understanding your tax obligations as an H-1B holder is crucial to avoiding this scenario.

The good news is that both the US Internal Revenue Code and the India-US Double Taxation Avoidance Agreement (DTAA) provide mechanisms to prevent this double taxation. The primary relief mechanism for US tax residents is the Foreign Tax Credit, which allows you to offset taxes paid to India against your US tax liability. The key is understanding how these mechanisms work and implementing them correctly on your tax returns.

Understanding the Foreign Tax Credit

The Foreign Tax Credit (FTC) is a provision in the US tax code that allows American taxpayers to reduce their US tax liability by the amount of income tax they’ve already paid to a foreign country on the same income. It’s designed specifically to prevent the economic hardship of double taxation while maintaining the US’s right to tax worldwide income. The credit operates as a dollar-for-dollar reduction in your tax bill—far more valuable than a tax deduction, which only reduces your taxable income.

Here’s the fundamental concept in practical terms: If you paid ₹50,000 in Indian TDS on NRO interest income, and that converts to approximately $600 at current exchange rates, you can reduce your US tax liability by up to $600. The credit directly offsets what you owe the IRS, rather than just lowering your taxable income. If that same $600 were claimed as a deduction instead of a credit, it would only save you $132-$222 depending on your tax bracket (22-37%). The credit is clearly the superior choice in virtually all scenarios.

The FTC has been part of the US tax code since 1918, reflecting a longstanding policy that taxpayers shouldn’t face punitive taxation simply because they have international income. The credit recognizes that when a foreign country has already taxed income that arises within its borders, requiring the taxpayer to pay full US tax on the same income would be fundamentally unfair. Understanding the tax implications on your home country helps clarify why this relief mechanism exists.

Who Qualifies for the Foreign Tax Credit?

To claim the Foreign Tax Credit, you must meet four fundamental requirements established by the IRS. First, you must have paid or accrued foreign income tax to a foreign country or US possession—this is straightforward for NRIs who have TDS withheld in India. Second, the tax must have been imposed on you personally, not on someone else. Third, you must have a legal liability for the tax, meaning it was properly assessed under foreign law. Fourth, and critically, the foreign tax must be an actual income tax or a tax paid in lieu of an income tax.

For NRIs with Indian income, the most common qualifying taxes include TDS on NRO account interest (typically 30%, or 10-15% with DTAA documentation), TDS on dividends from Indian companies (20% on share dividends, 10% on mutual fund dividends), income tax on rental income from Indian property, capital gains tax on the sale of Indian real estate or stocks, and advance tax paid quarterly in India on estimated income. Each of these represents Indian income tax that qualifies for the US Foreign Tax Credit.

However, not every payment to the Indian government qualifies. GST (Goods and Services Tax) is not creditable because it’s a consumption tax, not an income tax. Property tax paid to municipal authorities is not creditable. Stamp duty paid on property registration is not creditable. Wealth tax (now abolished in India, but historically) was not creditable. The distinction matters: only taxes imposed on income—not on transactions, property ownership, or consumption—qualify for the Foreign Tax Credit.

Credit vs. Deduction: Why the Credit is Almost Always Better

US taxpayers have a choice: they can either claim foreign taxes paid as a credit (using Form 1116) or as an itemized deduction on Schedule A. In almost every scenario, the credit produces a significantly better tax outcome. The math is straightforward but important to understand. A tax credit reduces your actual tax liability dollar-for-dollar—if you owe $10,000 in tax and have a $1,000 credit, you now owe $9,000. A tax deduction reduces your taxable income, which then reduces your tax by your marginal rate—if you’re in the 24% bracket and take a $1,000 deduction, you save only $240 in tax.

The only scenario where a deduction might theoretically make sense is if your Foreign Tax Credit is severely limited (we’ll explain the limitation rules later), you have massive unused carryovers that will expire before you can use them, and you’re already itemizing deductions anyway. Even then, the credit usually wins over the long term because unused credits can be carried back one year and forward ten years. Unless you’re in a very unusual situation, always choose the credit.

Form 1116: Step-by-Step Filing Guide

Form 1116, Foreign Tax Credit, is the IRS form used to calculate and claim your credit for foreign taxes paid. While the form looks intimidating with its multiple parts and categories, breaking it down into logical steps makes it manageable. The key is understanding what information you need to gather before you start, and then following the form’s flow systematically. For NRIs who are already navigating filing taxes as an H-1B holder, adding Form 1116 is a natural extension of your compliance requirements.

Before diving into the form itself, understand when you’re required to file it versus when you can skip it. You must file Form 1116 if your total foreign taxes paid exceed $300 ($600 if married filing jointly), if you want to preserve your ability to carry back or carry forward unused credits, or if your foreign income falls into multiple “baskets” (categories). You may skip Form 1116 and claim the credit directly on Form 1040 only if all your foreign income is passive (interest, dividends, capital gains), your total foreign taxes are $300 or less ($600 MFJ), and you’re willing to forfeit carryback and carryforward rights for that year.

For most NRIs with ongoing Indian income, I strongly recommend always filing Form 1116 even if your foreign taxes are under the threshold. The form creates a clear record of your foreign taxes and preserves your valuable carryover rights. If your Indian tax exceeds your limitation in one year (common when you have a high-tax event like selling property), those excess credits don’t disappear—they can be used in future years. But only if you properly filed Form 1116 each year.

Part I: Taxable Income from Sources Outside the United States

Part I requires you to report your foreign gross income organized by country and calculate the deductions allocable to that income. At the top of the form, check the box indicating which income category you’re reporting (passive, general limitation, etc.). On line i, enter the country code—for India, this is “IN”. On line 1a, enter your gross income from India in that category, converted to US dollars. This should match what you reported elsewhere on your return (Schedule B for interest/dividends, Schedule E for rental, Schedule D for capital gains).

Lines 2 through 6 require you to allocate deductions to your foreign income. This includes a portion of your itemized deductions (or standard deduction), certain above-the-line deductions, and any direct expenses related to earning the foreign income (like property management fees for rental properties). The allocation rules can be complex, but for most NRIs with straightforward passive income, the main allocation involves the standard deduction or itemized deductions. Line 7 shows your net foreign source taxable income—this is the numerator in your limitation calculation.

Part II: Foreign Taxes Paid or Accrued

Part II is where you report the actual foreign taxes you’re claiming credit for. For each payment, you’ll enter the date paid (or accrued, if you use the accrual method), the amount in foreign currency, the exchange rate used, and the resulting US dollar amount. The IRS publishes yearly average exchange rates at irs.gov, and these are generally the easiest to use and defend on audit. Be meticulous about your conversions—the IRS has been known to question exchange rate calculations.

If you paid taxes to multiple countries or on multiple dates, you’ll have multiple entries. For Indian TDS, you’ll typically have one entry per type of income (interest from Bank A, interest from Bank B, dividends from Broker X, etc.). Total your foreign taxes on line 8. This total flows into Part III where it gets compared against your limitation.

Types of Indian Income Eligible for Foreign Tax Credit

Not all Indian income is treated the same way for Foreign Tax Credit purposes. The IRS requires you to categorize foreign income into “baskets” or limitation categories, and you must file a separate Form 1116 for each category. The two main categories relevant to most NRIs are passive category income (most investment income) and general category income (rental and business income). Mixing income from different baskets on the same Form 1116 is not allowed—this is one of the most common errors the IRS catches on examination.

With India’s evolving income tax provisions, the treatment of certain income categories continues to change on the Indian side. However, for US FTC purposes, what matters is (1) whether the income is foreign-source, (2) what category it falls into, and (3) whether the Indian tax paid qualifies as a creditable income tax. The Indian tax rate or structure changes don’t affect creditability—as long as it’s an income tax properly imposed, it’s creditable.

Passive Category Income

Most NRI income from India falls into the passive category. This includes interest income from NRO accounts and fixed deposits (taxed at 30% TDS, or 10-15% with DTAA), dividend income from Indian companies (20% TDS) and mutual funds (10% TDS), and capital gains from selling Indian stocks and equity mutual funds. The passive category is designed for income that doesn’t require active participation—you’re essentially a passive investor receiving returns on your capital.

Interest income deserves special attention because of the NRE vs. NRO distinction. NRE (Non-Resident External) account interest is tax-free in India—no TDS is deducted. However, this income is still taxable in the United States, and you must report it on Schedule B. Since no Indian tax was paid, there’s no Foreign Tax Credit available for NRE interest. NRO (Non-Resident Ordinary) account interest, on the other hand, is subject to 30% TDS (or reduced rates with DTAA). The TDS is fully creditable. For details on managing these accounts, see this guide on NRO account transfers and remittance rules.

Dividend income treatment has evolved in recent years. Since India abolished the Dividend Distribution Tax in 2020, dividends are now taxed in the hands of shareholders at their applicable rates, with TDS at 20% for NRIs. This TDS is creditable on your US return. Mutual fund dividends face 10% TDS. Note that Indian mutual funds are classified as PFICs (Passive Foreign Investment Companies) by the IRS, requiring complex Form 8621 reporting—but the underlying taxes are still creditable even with PFIC treatment.

General Category Income

Rental income from Indian property falls into the general category (sometimes called “general limitation” category). If you own an apartment in Bangalore and rent it out, that rental income is general category income, not passive. The distinction matters because excess credits in one category cannot offset taxes in another category. If you have excess passive credits but unused general limitation, you can’t cross-use them. For comprehensive guidance on rental taxation, see this comparative analysis of rental income taxation between US and India.

Capital gains from selling Indian real estate also fall into the general category (as opposed to capital gains from stocks, which are passive). This is important because property sales often generate large tax amounts. If you sell a property in India and pay significant capital gains tax, that tax goes into your general category Form 1116. If your general category limitation is low in that year (because the property gain was large relative to your other general income), you may have excess credits that carry forward.

DTAA vs. Foreign Tax Credit: Which Should You Use?

The India-US Double Taxation Avoidance Agreement (DTAA) and the US Foreign Tax Credit both aim to prevent double taxation—but they operate differently, apply in different jurisdictions, and are not mutually exclusive. Understanding the distinction is crucial for optimizing your total tax burden across both countries. Many NRIs mistakenly think they must choose one or the other, when in fact the optimal strategy typically involves using both.

The DTAA is a bilateral treaty between India and the United States that allocates taxing rights and provides reduced withholding rates. It operates primarily on the India side of the equation—it determines how much tax India can collect at source. For example, without DTAA, India charges 30% TDS on NRO interest. With proper DTAA documentation, that rate drops to 10-15%. The treaty doesn’t eliminate Indian tax; it reduces it. Your tax residency status must be properly established to claim these benefits.

The Foreign Tax Credit operates on the US side—it’s a unilateral provision in US tax law that allows you to credit foreign taxes paid against US tax liability. The FTC doesn’t care whether you paid 30% or 15% to India; whatever creditable income tax you paid, you can claim as a credit (subject to limitations). The FTC exists regardless of whether there’s a treaty with the foreign country.

Here’s the key insight: use DTAA to minimize Indian tax at source, then use FTC to credit whatever Indian tax you did pay against your US tax. For example, on NRO interest: (1) Submit Form 10F and your Tax Residency Certificate to your Indian bank, (2) Bank deducts TDS at 10-15% instead of 30%, (3) Report the gross interest on your US return, (4) Claim the reduced TDS as Foreign Tax Credit. You’ve minimized your Indian tax and then credited that reduced amount against US tax. This produces a better result than paying 30% to India and then trying to credit it all. Similar DTAA structures exist with other countries—see how India-UAE DTAA works for comparison.

How to Claim DTAA Benefits in India

To claim reduced TDS rates under DTAA in India, you need to provide documentation proving your US tax residency. The primary document is the Tax Residency Certificate (TRC), which is IRS Form 6166 for US residents. You request Form 6166 from the IRS by filing Form 8802 (Application for United States Residency Certification) along with the required fee. Processing typically takes 4-6 weeks, so plan ahead before the Indian financial year begins.

In addition to the TRC, you must submit Form 10F to the Indian payer (bank, broker, company paying dividends). Form 10F requires basic information about your tax residency and must now be filed electronically on the Indian Income Tax portal. Many NRIs skip this documentation either because they don’t know about it or find it inconvenient—and end up paying 30% TDS instead of 10-15%. The savings from proper DTAA documentation often exceed $1,000 annually for NRIs with substantial Indian investments. It’s worth the paperwork.

Calculating Your Foreign Tax Credit: The Limitation

The Foreign Tax Credit isn’t unlimited—the IRS caps your credit to ensure you can’t use foreign taxes to offset US tax on US-source income. This cap is called the Foreign Tax Credit Limitation, and understanding it is essential for tax planning. If your foreign taxes exceed your limitation, you don’t lose the excess—it carries over—but you can’t use it immediately. For details on reporting various types of foreign income, see this guide on reporting foreign rental income on your US tax return.

The limitation formula is conceptually straightforward: your FTC limitation equals the portion of your US tax that corresponds to your foreign income. The mathematical formula is: FTC Limitation = (Foreign Source Taxable Income ÷ Worldwide Taxable Income) × US Tax Liability. Your actual credit is the lesser of (a) foreign taxes actually paid, or (b) the FTC limitation calculated by this formula.

The limitation prevents a taxpayer with high foreign income taxed at high foreign rates from using those foreign tax credits to offset US tax on US income. For example, if you earn $100,000 in the US and $10,000 in India, and you pay $5,000 in Indian tax on that $10,000, you can’t use the full $5,000 credit if your limitation is only $1,800 (based on $10,000 being only 10% of your worldwide income). The excess $3,200 carries forward, but you can’t use it immediately.

When Limitations Bite: High-Tax Scenarios

Limitation issues most commonly arise when you have a high-tax event in India relative to your US income. Selling Indian property is the classic example. Suppose you sell an apartment in Mumbai for a significant gain and pay 20% plus surcharge in Indian capital gains tax. That tax amount might exceed your limitation for the year, especially if the property gain is large relative to your other income. The result: excess credits that carry forward.

The High-Tax Kickout rule adds another wrinkle. If your effective foreign tax rate on passive income exceeds the highest US marginal rate (currently 37%), that income gets “kicked out” of the passive basket into the general basket. This prevents taxpayers from averaging high-taxed passive income with low-taxed passive income to maximize credit utilization. For most NRIs with typical Indian investment income, the HTKO rule doesn’t apply—but it can affect those with very high foreign tax rates on specific income streams.

Carryover and Carryback Rules

When your foreign taxes exceed your limitation in any given year, those excess credits don’t disappear—they become carryovers that you can use in other years. The IRS allows you to carry unused foreign tax credits back one year and forward up to ten years. This carryover system ensures that you eventually get credit for all foreign taxes paid, even if you can’t use them immediately due to limitation constraints.

The carryback option allows you to amend your prior year’s return to claim additional credit. This makes sense if you had unused limitation capacity last year—essentially, you had room to absorb more foreign tax credit than you claimed. The carryforward option is more commonly used: you simply track the unused credits and apply them in future years when your limitation is higher or your foreign income is lower. The IRS applies credits in chronological order—oldest credits first—so managing your carryovers properly prevents valuable credits from expiring.

Critically, you must file Form 1116 each year to preserve carryover rights. If you claim the simplified credit (without Form 1116) in any year, you forfeit the ability to carry back or carry forward credits for that year. This is why I recommend always filing Form 1116 even if your foreign taxes are below the threshold—it creates a paper trail and preserves all your options.

Use Schedule B (Form 1116) to track your carryovers year by year. This schedule reconciles your prior year carryforward amounts, current year foreign taxes, current year credit used, and remaining carryforward to the next year. Keep meticulous records—the IRS expects you to substantiate carryover claims with documentation from the years when the taxes were originally paid.

Common Mistakes NRIs Make with Foreign Tax Credit

Avoiding common errors can save you from IRS notices, lost credits, and unnecessary double taxation. These mistakes appear repeatedly in NRI returns, and the IRS has become increasingly sophisticated at catching them. Some trigger automated notices; others surface during examinations. Here are the critical errors to avoid.

Mistake #1: Reporting Net Income Instead of Gross

This is perhaps the most common error. When your Indian bank credits NRO interest, you see the net amount after TDS. Many NRIs report this net figure on their US return. This is wrong. You must report the gross income (before TDS) and separately claim the TDS as foreign tax paid. If you report net income, you’ve both understated your income and understated your foreign tax credit—the errors somewhat offset, but you’re not properly complying with either reporting requirement.

Mistake #2: Forgetting NRE Account Interest

NRE accounts are tax-advantaged in India—interest is completely exempt from Indian tax. Many NRIs assume this means they don’t need to report it anywhere. Wrong. The US taxes worldwide income. NRE interest is fully taxable on your US return, reportable on Schedule B just like any other interest income. The only difference from NRO interest is that since no Indian tax was paid, there’s no Foreign Tax Credit available. You still owe US tax on it.

Mistake #3: Skipping Form 1116 to “Keep It Simple”

Some NRIs or their tax preparers skip Form 1116 when foreign taxes are below the $300/$600 threshold, thinking it simplifies the return. While technically allowed, this approach forfeits carryover rights. If you have a high-tax year later (like selling property), having carryforward capacity from prior years would be valuable. By skipping Form 1116, you’ve given up that flexibility. For ongoing Indian income, always file Form 1116.

Frequently Asked Questions

Can I claim Foreign Tax Credit on NRE account interest?

No, because no Indian tax is paid on NRE interest—it’s tax-exempt in India. The Foreign Tax Credit only applies to taxes you actually paid. However, NRE interest is taxable in the United States, so you must report it on Schedule B. You’ll owe US tax on this income with no offsetting credit.

What if I paid more Indian tax than my US tax liability on that income?

The excess credit carries forward up to 10 years (or back 1 year if you amend). You don’t lose it—you just can’t use it immediately. When your limitation increases in future years (higher US tax or lower foreign income ratio), you can absorb the carryforward credits.

Do I need to file Form 1116 for TDS under $300?

Not technically required if all foreign income is passive and total foreign taxes are under $300 ($600 MFJ). But I recommend filing it anyway to preserve carryover rights and create a clear record. The downside of filing (slightly more paperwork) is far outweighed by the upside (flexibility in future years).

How do I report capital gains tax paid in India on property sale?

Report the capital gain on Schedule D and Form 8949 (use “various” for acquisition date if needed, with cost basis converted to USD at acquisition-date exchange rate). The Indian capital gains tax goes on Form 1116 under the general category (not passive, since it’s real property). For TDS procedures on property sales, see this guide on TDS guidelines for NRI property sales.

Can I claim FTC for taxes paid through advance tax in India?

Yes. Advance tax paid in India on estimated income is creditable in the US tax year when the underlying income is recognized. Keep the challans (payment receipts) as documentation. Self-assessment tax paid when filing your Indian ITR is also creditable.

What’s the difference between Form 1116 and Form 2555?

Form 1116 claims the Foreign Tax Credit for taxes paid to foreign countries. Form 2555 claims the Foreign Earned Income Exclusion for income earned while physically residing abroad. Most NRIs living in the US use Form 1116—the exclusion requires extended physical presence outside the US (330 days in a 12-month period or bona fide residence abroad), which typically doesn’t apply to H-1B holders and Green Card holders living in America.

How does the FTC work with Indian mutual funds classified as PFICs?

Indian mutual funds are classified as Passive Foreign Investment Companies (PFICs) by the IRS, requiring Form 8621 reporting with complex tax calculations. The PFIC regime is punitive—but Indian taxes paid on PFIC income are still creditable on Form 1116. The FTC doesn’t eliminate the PFIC problem, but it does prevent double taxation on top of the already-harsh PFIC treatment.

Can I amend prior returns to claim forgotten FTC?

Yes—and you have an extended window. For Foreign Tax Credit claims specifically, you can file Form 1040-X to amend returns within 10 years of the original due date. This is longer than the standard 3-year amendment window. If you paid Indian taxes in past years and didn’t claim the credit, you may still be able to recover it.

What if India and the US both claim me as a tax resident?

The DTAA includes tie-breaker rules to determine your residence for treaty purposes. Factors considered (in order) include: permanent home, center of vital interests (family, economic ties), habitual abode, and nationality. If tie-breakers can’t resolve it, the competent authorities of both countries negotiate. Most NRIs living and working in the US will be US residents under tie-breaker rules.

Bottom Line

The Foreign Tax Credit is the most powerful tool NRIs have to avoid double taxation on Indian income. Every dollar of creditable Indian tax directly reduces your US tax bill—it’s not a deduction that saves you pennies on the dollar, it’s a full credit that saves you the entire amount (subject to limitations). Yet many NRIs either don’t claim it at all or claim it incorrectly, leaving significant money on the table.

The key takeaways from this guide: First, report gross income and claim the full TDS as foreign tax—don’t report net amounts. Second, categorize your income correctly into passive and general baskets with separate Form 1116s. Third, use DTAA benefits in India to reduce TDS at source, then credit whatever you paid on the US side. Fourth, always file Form 1116 to preserve carryover rights, even if your foreign taxes are below the threshold. Fifth, keep meticulous documentation—Form 16A, Form 26AS, bank statements, and Indian ITR acknowledgments for at least seven years.

If you have complex Indian holdings—multiple rental properties, significant investment portfolios, or business interests—consider working with a tax professional experienced in cross-border NRI taxation. The rules are intricate, and the cost of errors (lost credits, IRS notices, penalties) often exceeds the cost of professional help. For straightforward situations (NRO interest, some dividends), the guidance in this article should enable you to handle the Foreign Tax Credit correctly on your own return.

Disclaimer

This article is provided for informational purposes only and does not constitute tax, legal, or financial advice. Tax laws in both the United States and India change frequently, and individual circumstances vary significantly. The information presented reflects general principles as of the publication date and may not apply to your specific situation.

Before making tax decisions based on this article, consult with a qualified tax professional who understands both US and Indian taxation. Neither the author nor VisaVerge assumes any liability for actions taken based on this information. For official guidance, refer to IRS publications and the Income Tax Department of India’s official resources.