“Foreign inflows have an effect because of the global slowdown that we are seeing for the last 18 months… but we are hopeful (as) India has shown very great numbers compared to the rest of the countries. So, we are hoping that we would be making up for all that,” said Manmeet K Nanda, joint secretary, Department for Promotion of Industry and Internal Trade (DPIIT).
FDI equity inflows fell nearly a quarter to $10.3 billion in the quarter to September 2022 from $13.6 billion a year earlier. In the first half of this financial year, FDI equity inflows shrank 14% to $26.91 billion from $31.5 billion a year earlier, while total inflows were 8.8% lower at $39.09 billion in the April-September period from $42.86 billion a year ago.
Nanda said investments and equity inflows usually improve towards the last quarter of a financial year. On the number of pending FDI proposals from China under Press Note 3 of 2020, she said “pendency is probably the lowest at this point in time”.
As per the press note, the government had made its prior approval mandatory for foreign investments from countries that share a land border with India to curb opportunistic takeovers of domestic firms following the pandemic.
