After three consecutive years of infusing huge funds, foreign portfolio investors retreated from the Indian equity markets in a big way in 2022 with the highest-ever yearly net outflow of nearly Rs 1.21 lakh crore.
The huge outflow, which surpasses by a big margin the previous record of Rs 53,000 crore net withdrawal in 2008, came amid aggressive rate hikes by central banks globally but 2023 is expected to be better on positivity about overall macroeconomic trends in India, experts said.
Apart from global monetary tightening, volatile crude, rising commodity prices along with Russia and Ukraine conflict led to an exodus of foreign money in 2022.
Going ahead, the quantum of FPI outflows might not be as large as that seen in the first half of 2022 as India’s growth is relatively promising compared to other developed and emerging economies, said Manish Jeloka, Co-head of Products and Solutions, Sanctum Wealth.
Sanjiv Bajaj, Joint Chairman and MD of Bajaj Capital, said that FPI flows i
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