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 "Foreign direct investment")
The RBI data also revealed that repatriation and disinvestment by those who had made direct investments in India rose to $25.58 billion in the first eight months of FY24, up from $19.87 billion in April-November 2022.
Net foreign direct investment (FDI) in India, which is calculated as inflows minus outflows, declined to $13.54 billion in April-November 2023 from $19.76 billion during the same period in 2022. This decline was primarily due to a fall in global inflows and an increase in the repatriation of equity capital.
According to data from the Reserve Bank of India (January 2024 bulletin), FDI in India amounted to $21.39 billion, while FDI by India, which represents money invested abroad from the country, reached $7.85 billion in April-November 2023. In comparison, for the year 2022, FDI in India stood at $29.11 billion, with FDI by India reaching $9.35 billion during the same April-November period.
The RBI data also revealed that repatriation and disinvestment by those who had made direct investments in India rose to $25.58 billion in the first eight months of FY24, up from $19.87 billion in April-November 2022.
READ: India eyes $100 bn annual FDI in coming years: IT minister Vaishnaw
According to a “State of Economy” article in RBI’s monthly bulletin (January 2024), manufacturing, electricity, other energy sectors, transport, financial services, retail, and wholesale trade contributed to approximately two-thirds of the gross inward FDI equity flows. The majority of the equity inflows (69.9 per cent) came from Mauritius, Singapore, Japan, the United States, and the Netherlands during the same period.
As reported by fDi Intelligence, India is among the top 10 countries in the world with the strongest expected investment momentum in 2024.
India’s burgeoning data centre capacity serves as a comparative advantage. This capacity is expected to exceed one gigawatt by 2024, positioning the country as a global data centre hub. This development has positive implications for foreign direct investment, which has begun to rebound in the second half of 2023-24 and is increasingly flowing into business services, it added.
First Published: Jan 23 2024 | 10:03 AM IST
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