'FPI community to play key role in positioning India as 3rd largest economy'
The net foreign portfolio investor (FPI) inflows turned green this month, both in the equity and debt segment, and as India enters 'Amritkaal', the FPI community will play a major role in positioning it as the third largest economy in the world, market experts said on Saturday.
IANS
Jul 13, 2024 09:03
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New Delhi, July 13 (IANS) The net foreign portfolio investor (FPI) inflows turned green this month, both in the equity and debt segment, and as India enters 'Amritkaal', the FPI community will play a major role in positioning it as the third largest economy in the world, market experts said on Saturday.
There was a total net inflow of Rs 2,82,338 crore for both equity and debt in FY24.
According to market watchers, the reason for a quick rebound in the capital markets can be attributed to the positive sentiments, a stable government’s assurance on continuity of reforms, tepid US Fed rates, and strong domestic demand.
"The recent announcements in IFSC Gift City for wide participation for foreign and Indian investors has also diverted the international players to allocate a substantial portion of their global portfolio to India markets," said Manoj Purohit, Partner and leader, FS Tax, Tax and Regulatory Services, BDO India.
In the first week of this month, FPIs infused Rs 7,962 crore in equity while their debt investments in the same period stood at Rs 6,304 crore.
All eyes are on the budget proposals to be tabled on July 23 which will hopefully announce path-breaking reforms providing India a golden opportunity against the other emerging global markets. "As India enters ‘Amritkaal’, the FPI community will play a major role for the nation to position as the third-largest economy in the world," said Purohit.
--IANS
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