The US continued to be the largest source of FDI in India, followed by Mauritius, Singapore and the UK, according to Census on Foreign Liabilities and Assets of Indian Direct Investment Entities for 2023-24 from the Reserve Bank of India (RBI). Out of the 41,653 entities, which responded in the latest census, 37,407 reported foreign direct investment (FDI) and/or overseas direct investment (ODI) in their balance sheets for March 2024. Of these entities, 29,926 had also reported in the previous census round and 7,481 have newly reported in the current round, according to Census on Foreign Liabilities and Assets of Indian Direct Investment Entities for 2023-24.
RBI noted that over 97 per cent of the responding entities were unlisted as at end-March 2024 and they held the dominant share in total FDI equity capital at face value. Non-financial companies accounted for nearly 90 per cent of the FDI equity at face value. Supported by valuation gains as well as fresh inflows, total FDI in India surged by 23.3 per cent at market value in rupee terms during 2023-24; on the other hand, ODI growth was much lower at 3.4 per cent.
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