Overseas investment helps in economic upliftment

#economic #investment #fdi #fpi
India’s growth story may be slightly revised due to the ravages wrought by the Covid-19 virus. But there is still overseas interest across sectors, which indicates that investors are still optimistic about the country’s long-term prospects for economic upliftment. This, and the resulting inflow of investor dollars, has boosted the country’s foreign exchange reserves during the year under review by more than 100 billion dollars to 576.8 billion dollars as on April 2, 2021. The money flowed both in the form of foreign of foreign direct investment (FDI) as well as in the form of foreign portfolio investment (FPI). A report states, Foreign investors also continued to pour money into the country’s debt and equity markets, pumping in as much as 36.16 billion dollars during the financial year ended March 31, 2021. This took the benchmark BSE Sensex from a level of 28,265.31 on April 1, 2020 to 49,569.15 on March 31, 2021. Along the way, it touched 50,000 for the first time on January 21, 2021.


Another report states that the impact of the PLI scheme was the other star of the show. This initiative, which envisages attracting investments from companies that are looking to de risk their supply chains from their current over-reliance on China, has attracted investments from marquee investors such as Apple, through its contract manufacturers Foxconn, Pegatron, Wistron, and Samsung, among several others, setting up or expanding their smartphone manufacturing units in the country. It has indicated more than 70.3 billion real-time payments transactions were processed globally in 2020, a surge of 41% compared to the previous year.

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