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Offshore Funds
India-focused offshore funds and exchange-traded funds (ETFs) witnessed a 9 per cent quarter-on-quarter decline in inflows to USD 803 million in the January-March period, mainly due to an uncertain global economic environment, according to a Morningstar report. However, this was the third consecutive quarter of inflow. Before that, such funds saw 17 quarters of net outflows in a row. India-focused offshore funds and ETFs are some of the prominent investment vehicles through which foreign investors invest in the Indian equity market. Going by the report, the category received a net inflow of USD 803 million during the January-March quarter of 2023, which was slightly lower than the net inflow of USD 884 million during the quarter ended December 2022. Flows into offshore funds are generally considered to be long-term in nature, whereas flows into offshore ETFs indicate predominantly short-term investments. Going ahead, investors would also look for cues from the scenario that unfold
Union minister Hardeep Singh Puri on Monday launched the Offshore Bid Round offering and assured transparency, efficiency and ease of doing business to investors. In a keynote address to industry leaders in Houston, the Union Petroleum and Natural Gas Minister described the initiatives taken by his Ministry in accelerating the exploration and production activities in India. Puri also gave his views on the importance of Coal Bed Methane in increasing India's domestic production and reducing the country's import burden. He launched the Special CBM (popularly known as Coal Seam Gas) Bid Round - 2022 for International Competitive Bidding on Monday at Houston. Simultaneously, Puri launched the Offshore Bid Round offering 26 blocks -- 18 carved out by DGH and eight as a result of expression of interests (EoI) from potential investors -- covering an area of approximately 2.3 lakh Sq. Km. Out of 26 blocks, three blocks based on EoIs are onshore covering an area of only 3,666 sq km, a medi