Hardening interest rates globally and worsening geo-political situation have impacted the foreign direct investment (FDI) inflows into India in 2022-23, a top government official said on Tuesday. Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that the department would analyse the reasons for the contraction in FDI in five important sectors like computer hardware and software; construction, education, automobiles and metallurgical industries. “I cannot think of any other reason. It is not as if our FDI policies have become protectionist. “On the contrary, we have kept it very very liberal … The decline is combination of hardening of interest rates along with geo-political risks going up around the world. In general the appetite may be less,” Singh told PTI in an interview.
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