A welcome surge

Govt must leverage overseas investor confidence

The last quarter of the 2016-17 saw a revival in overseas portfolio investments. In March alone, foreign portfolio investors (FPI) bought a net Rs 30,906 crore of equity and another Rs 10,881 crore of debt. Between January and March 2017, FPIs bought a net Rs 39,631 crore of equity and Rs 28,995 crore of debt, making it the best quarter since the fourth quarter of 2014-15. For the whole year, foreign investors pumped in a little over Rs 49,000 crore into the Indian capital markets, in contrast to the hefty sum they pulled out in 2015-16. This surge has happened