The Department for Promotion of Industry and Internal Trade has released its latest figures for foreign direct investment (FDI) in India over the period between April and September 2022. These show a sharp downturn in FDI flows. Over the period, they stood at $26.9 billion as compared to 31.2 billion in the equivalent six months of the previous year. This year-on-year decline of 14 per cent or so represents a sequential decline from the previous period of even greater magnitude. Trade growth so far this year has not been particularly encouraging. Foreign portfolio investment into India has also seen a decline; inflows into equity in particular went down by nearly a quarter in the April-September period as compared to the same time interval in the previous year. Within these broader foreign inflows, the overall FDI category is considered relatively stable. A sharp fall in such inflows is a reminder that this assumption of stability is and always has been unwarranted.
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First Published: Sun, November 27 2022. 21:42 IST
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