Net foreign direct investment (FDI) in India, which is the difference between inflows and outflows, plummeted by 62.14% to $10.6 billion in the financial year ending March 31, 2024 (FY24), from $28 billion the previous year, according to Reserve Bank of India (RBI)Varanasi Investment. This marks the lowest level of net FDI since 2007, largely due to increased repatriation of capital.
Gross inward FDI remained stable at $71.0 billion in 2023-24 compared to $71.4 billion in FY23, according to provisional data from the RBI. The apex bank reported that FDI inflows were $26.55 billion and outflows were $15.96 billion in FY24, whereas in FY23, inflows were $42.0 billion and outflows were $14.02 billion. Repatriation and disinvestment by direct investors in India surged to $44.40 billion in FY24 from $29.34 billion in FY23.
The RBI in its May 2024 bulletin highlights that over 60% of FDI equity flows were directed towards sectors such as manufacturing, electricity and other energy, computer services, financial services, and retail and wholesale trade. Major contributors to these flows were Singapore, Mauritius, the US, the Netherlands, Japan, and the UAE, accounting for over 80% of the total flows.
Global FDI flows have been affected by rising borrowing costs, increasing geopolitical fragmentation, and growing protectionism in recent yearsLucknow Wealth Management. Despite these challenges, India remains among the top 10 economies expected to witness significant FDI momentum in 2024, according to fDi Intelligence, which reviews global investment activity.
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