Mumbai: Data released by the Reserve Bank of India (RBI) revealed that the gross foreign direct investment (FDI) flows to the country declined for the first time in a decade. FDI inflow declined on an annual basis in 2022-23 to $71 billion. FDI inflow registered a decline of 16.3% in 2022-23 compared to inflows in 2021-22. The gross FDI inflows in 2021-22 were $81.97 billion. It was up 10% over fiscal 2019-20.
The previous year-on-year contraction in FDI was in 2012-13 when the inflows declined by 26% to $34.298 billion.
Also Read: ISRO to launch GSLV-F12 Navigation satellite on May 29
Net FDI too declined by nearly 27% to $28 billion in 2022-23. It was at $38.6 billion a year ago.
Manufacturing, computer services and communication services recorded the highest decline in FDI inflows compared with the preceding year. India was the second largest recipient of FDI ($26.2 billion) in the semiconductor industry for the year 2022, second only to the US ($33.8 billion).
Meanwhile, foreign portfolio investors (FPIs) turned net purchasers in domestic financial markets in April, primarily in the equity segment ($1.9 billion).
Post Your Comments