India's May net FDI turns negative by $74 million
India saw more money leaving than coming in through foreign direct investment (FDI) this May; net FDI slipped into the negative by $74 million, breaking a three-month streak of gains.
The main reason? Fewer new investments arrived, with total inflows dropping to $6.1 billion, a steep fall compared to April and last year.
India sees equity inflows, outward investments
Japan, Singapore, and Mauritius led the way for equity inflows into India this spring, mostly backing financial services, manufacturing, retail, and tech sectors.
Meanwhile, Indian companies sent most of their own investments abroad to the US the Cayman Islands, and the Netherlands, mainly targeting finance and manufacturing.
So while some countries are still betting big on India's growth sectors, Indian firms are also looking for opportunities overseas.