United States is Largest Equities Investor in India
Nov. 26 – The United States is now India’s largest equity market investor with a net investment worth Rs 213,450,000,000 as of November 10.
This represents a major shift for the United States when two years ago it was not even part of the top ten investors in the Indian stock market. Luxembourg and France follows the United States as the second and third largest investors respectively along with other top investors Mauritius, United Kingdom, United Arab Emirates and Hong Kong.
The equities data is compiled by the finance ministry and uses information that accounts for investment by foreign institutional investors and their sub-accounts.
According to The Financial Express, the government data also confirms that excess liquidity created in the previous two years as a response to the global economic crisis is finding its way into emerging economies including India.
FIIs have so far put in US$15.26 billion in Indian stocks until November 24. The number of FIIs registered with Securities and Exchange Board of India increased to 1,705 this year compared to 1,573 last year. Registered sub-accounts jumped from 4,832 last year to 5,347.
“Due to a structural dollar weakness, coupled with an improvement in domestic growth and the balance of payments, we expect the rupee to strengthen to Rs 44 for a dollar by March 10 and Rs 41 for a dollar by March 11,” Citi India said on its Global Economic Outlook and Strategy report.
- Previous Article New Highway Construction Increases Eight Fold
- Next Article Government to Establish Rehabilitation Package for Returning Workers