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RBI sees a positive shift in FPI's flows in domestic market
The Business Guardian
|August 09, 2024
While announcing the monetary policy, RBI Governor Shaktikanta Das noted a positive shift in foreign portfolio investment (FPI) flows, with USD 9.7 billion net inflows in domestic markets from June 2024.
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Governor Das said, “On the external financing side, foreign portfolio investors turned net buyers in the domestic market from June 2024 with net inflows of USD 9.7 billion during JuneAugust (till August 6) after witnessing outflows of USD 4.2 billion in April and May.”
He added, “Foreign direct investment (FDI) flows picked up in 2024-25 as gross FDI rose by more than 20 per cent during April-May 2024, while net FDI flows doubled during this period compared to the corresponding period of the previous year. External commercial borrowings moderated during April-June 2024-25, while non-resident deposits recorded higher net inflows during April-May compared to the previous year.
India’s foreign exchange reserves reached a historical high of USD 675 billion as of August 2, 2024." Das highlighted that India's Current Account Deficit (CAD) had moderated to 0.7% of GDP in 2023-24, down from 2.0% in 2022-23.
Dit verhaal komt uit de August 09, 2024-editie van The Business Guardian.
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