FDI kept rising even during Covid: Sitharaman

New Delhi, April 4 : Foreign Direct Investment (FDI) inflow into India kept increasing even through the Covid-19 pandemic, Finance Minister Nirmala Sitharaman said on Monday, adding the FPI or FII do not give a true picture of foreign investment. Asking a supplementary question in the Lok Sabha, Congress MP Shashi Tharorr said overseas investors have pulled out investment worth Rs. 1,14,856 crore from Indian markets in the current year so far. This is the sixth straight month when foreign institutional investors have withdrawn from Indian markets, he said. He said there was a “steadily declining investment from foreign portfolio investors”. Sitharaman said “investments will have to be gauged not just by looking at FPI and FIIs, which by very nature depend on interest rate and they keep moving up and down”. As the Minister spoke, she was interrupted by an opposition MP. Sitharaman slammed him for doing a “running commentary” on her rely. “Why is it that when I stand up to answer, there is always this temptation to have a running commentary. Can I appeal through you that even learned members like Prof. Saugata Roy never ever forgets that he has to obstruct the Minister when she answers. I wish he asks for clarification after I answer instead of having small time satisfaction of obstructing,” she said. The Minister continued with her reply: “FPI and FII are going to be typical, what ought to be looked at is inflow of FDI which is remaining unabated. “…It continued during Covid and subsequently also… The money that is coming is staying invested in the country,” she said. AO MR

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