A report by the Securities and Exchange Board of India (SEBI) shows that the United States had the largest share of Foreign Portfolio Investors (FPIs) investing in India during the fiscal year 2023-24. As of March 31, 2024, the total number of registered FPIs in India had risen to 11,219, up from 11,081 the previous year. Among these, the United States led with 3,457 investors.
SEBI’s report detailed the distribution of FPIs by country. The United States was the leader with 3,457 registered FPIs, followed by Luxembourg with 1,393 and Canada with 804.
The report also noted a significant rise in the assets under custody (AUC) for FPIs. By March 31, 2024, the AUC of FPIs’ custodians increased by 42.8% to ₹69.5 lakh crore, compared to ₹48.7 lakh crore a year earlier. This growth highlights the increasing confidence of foreign investors in the Indian market.
Furthermore, the report revealed that equity assets constituted 92.2% of the total AUC. The United States made the largest contribution to these equity assets, accounting for 39.2% of the total, followed by Singapore at 9.8% and Luxembourg at 7.1%. This strong growth in AUC, particularly in equity assets, indicates growing interest and confidence among foreign investors in India’s financial markets.
SEBI report highlighted that Foreign Portfolio Investment (FPI) in India for FY 2023-24 was the highest since 1992-93. It also emphasized that both FPI and foreign venture capital investment play a critical role in emerging economies like India, making FY 2023-24 an exceptional year for foreign portfolio investment flows.
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