Showing the effect of global slowdown, the net foreign direct investments (FDI) to India declined sharply to $4.99 billion in the April-June quarter (Q1FY4) from $13.92 billion in the same period a year ago.
The Reserve Bank of India (RBI) in its monthly bulletin (August 2023) said the moderation in gross inward FDI, coupled with a rise in repatriation of investments from India, resulted in a decline in net FDI.
The repatriation from the country surged to $10.43 billion in Q1 from $6.21 billion in the year-ago period.
Manufacturing, financial services, business services, computer services, electricity, and other energy sectors accounted for more than two-thirds of the fresh equity flows during this period, the RBI report said.
First Published: Aug 17 2023 | 9:16 PM IST