Are foreign inflows returning to India?

It has been a bad calendar year for most things, as is usually the case when the global flow of money suddenly changes course. According to data from the National Securities Depository Limited, Foreign Portfolio Investors (FPIs) took out nearly $30 billion in the first six months of 2022 from Indian financial markets. However, the tide may be turning after a particularly painful June which saw $6.59 billion exit Indian shores – the most in 27 months. The number for July makes for much better reading. As per data available on July 29, FPIs had put in a net $0.24 billion into India in July, perhaps a sign that things could be on the mend.