Team Blitz India
NEW DELHI: The inflow of Foreign Portfolio Investors (FPIs) is fuelling a business revival in the country. With this inflow, India continues to be the fastest-growing major economy with positive assessments of the growth outlook for the current financial year, by international organisations and the Reserve Bank of India.
Net inflow from FPIs improved to $12.01 billion, compared with $4.95 billion. Much of this net inflow was from equity and investment fund shares ($6.7 billion) compared with debt securities ($5 billion).
As another study found out, the net financial inflows rose to 1.3 per cent of GDP, from 1.2 per cent and there was a net accretion of $6 billion to foreign exchange reserves during the third quarter of FY24 ended 31 December, compared with $3 billion in the second quarter. Portfolio investments dominate capital inflows in the third quarter.
