Mumbai: The net Foreign Direct Investment (FDI) into India reached a 21-month high in October. This is the third month in a row to show an increase in net FDI. Data released by the Reserve Bank of India (RBI) revealed this. According to RBI data, the net FDI in India for October stood at $5.9 billion. It was at $1.55 billion in September.
According to RBI data, around four-fifths of the gross FDI flows into equity were invested in sectors such as manufacturing, retail, energy, and the financial services sector. Mauritius, Singapore, Cyprus, and Japan were the leading countries from where FDI flowed into the country. FDI inflow from these countries accounted for as much as four-fifths of the total during the month.
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According to UN ESCAP data, India remains the highest recipient of FDI in 2023 for the second consecutive year amid a slowdown worldwide.
Meanwhile, India’s outward FDI commitments fell by 19.6% sequentially to $1.55 billion in November 2023. It was at $ 1.93 billion in October 2023. They halved compared to $3.67 billion in November 2022. Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans, and guarantees.
The equity commitments declined to $729.57 million in November 2023 from $870.37 million in October 2023. It was at $1.69 billion in November 2022. The debt commitments decreased to $184.96 million in November, down from $250.42 million in October, also lower compared to $300.58 million in November 2022. Guarantees for overseas units declined to $637.26 million in November from $809.26 million in October. They were down substantially compared to $1.68 billion a year ago.
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