The recent drop in foreign direct investment (FDI) in India was triggered by a combination of geo-politocal challenges and monetary tightening in the developed countries that are the key investors across the globe but does not pose a long term challenge, DPIIT Secretary Rajesh Kumar Singh said in an interview to The Indian Express.
FDI into India registered a sharp slip by 24 per cent to $20.48 billion in April-September 2023-24 largely led by decline in the inflows in sectors such as computer hardware and software, telecom, auto and pharma. Concerned by the decline, the government had invited fund managers and start-up founders among other stakeholders for a crucial meeting to find out ways to weed out operational challenges impeding investments.
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