Foreign Portfolio Investment in Indian equities drop 11% to $542 bn in January-March quarter
The HinduThe value of Foreign Portfolio Investment in Indian equities was at $542 billion in the March quarter of 2023, a decline of 11% from the preceding year, largely due to the exodus of foreign money from the domestic market, according to a Morningstar report. On a quarter-on-quarter basis, the value of FPI in Indian equities fell by 7% from $584 billion recorded in the three months ending in December 2022. After withdrawing record funds in 2021–22, foreign portfolio investors continued their sell-off in the last fiscal too and pulled out ₹37,631 crore from Indian equities amid aggressive rate hikes by central banks globally. Since the start of foreign investment in 1993, this is for the first time foreign portfolio investors sold consecutively for two financial years.