Under the leadership of Prime Minister Narendra Modi, the country’s economy remains strong. Foreign investors have expressed confidence in India under Modi’s rule. Indian stock markets received more than $ 23 billion from foreign institutional investors (FIIs) during 2020, the highest among emerging markets. From January to December in the year 2020, FIIs made a total investment of Rs 1.6 lakh crore in the Indian equity market. This is the second year in a row that Indian stock markets have had the highest FII investment among emerging markets.
This is 63 thousand crores more than in 2019. The total investment in that year was 1.01 lakh crore rupees. According to experts, the expectation of strong economic recovery and income growth in the coming years has attracted FIIs in India.
FPI invested a record 68,558 crore in December 2020 Foreign investors invested Rs 68,558 crore in India during the Corona epidemic in December. According to depository data, foreign portfolio investors (FPIs) invested a record Rs 62,016 crore in shares in December, while Rs 6,542 crore in bonds. The total net investment of FPIs in November was Rs 62,951 crore. India has been successful in attracting a larger share of investment compared to other emerging markets with several reforms on the economic front even in the Corona period.
Let’s take a look at how the country’s economy is once again back on track, with the service setter caught and the telegraph service setter’s managing managers Indes was at 54.1 for the first time in the last seven months in October. A score greater than 50 in PMI indicates a decline in business activity, while a score below 50 indicates a decline. The growth of the service PMI raises new expectations about the economy. According to IHS Markit’s Economic Associate Dieter Pauliana de Lima, when the Indes is above 50, it means that the respective business setter has picked up. He said that it is encouraging that the Indian service sector is recovering from the worsening situation caused by the Kovid-19 epidemic.
Manufacturing PMI at the height of 13 years, its first manufacturing purchasing managers’ indus (PMI) in the country rose to 58.9 in October. This is the record level since October, 56.8 so far. Following the softening of the Corona lockdown, companies are now increasing their production rapidly. The manufacturing PMI stood at 56.8 in September last month.
GST collection has crossed Rs 1 lakh crore this October, after eight months, the goods and services tax-GST collection has once again crossed Rs 1 lakh crore. Earlier, the GST collection of Rs 1 lakh crore took place in February. According to the Ministry of Finance, the total GST collection stood at Rs 1,05,155 crore in October this year. This is ten percent more than the revenue received in the same period of last year. During this period, there has been an increase of nine per cent in revenue received from import of goods and 11 per cent in revenue from domestic business including import of services.
There has been a sharp jump in sales of passenger vehicles in October. Maruti Suzuki sold a total of 1,82,448 vehicles in October, a 19 percent increase over October last year. While Hyundai Motors sold a total of 68,835 vehicles in October, the company sold a total of 63,610 units in October-2019. In two-wheelers, Hero Motors grew by 35 percent to more than 8 lakh units in October, while Bajaj sold 11 lakh to 5 lakh 12 thousand and TVS sold 24 percent to 3 lakh 82 thousand units.
Record UPI Transactions UPI has broken a record of 2 billion transactions in October. In October, a total of Rs 207.16 crore worth of UPI transactions took place in the country. In October last year, there was a transaction of Rs 114.83 crore through UPI. According to data released by the National Payments Corporation of India, a total of UPI transactions worth Rs 3.3 lakh crore have been done so far.
Foreign exchange reserves set a new record The country’s foreign exchange reserves increased by $ 2.563 billion to $ 581.131 billion at the end of December 18. This is the highest level ever. According to the latest data of the Reserve Bank, during this period, a significant portion of the foreign exchange reserves, ie foreign currency assets, increased by $ 1.382 billion to $ 537.727 billion.
Gold reserves rose by $ 1.008 billion in this week to $ 37.020 billion. Foreign exchange reserves crossed the $ 500 billion mark for the first time in the week ended June 5, 2020. Earlier, on September 8, 2017, it crossed the $ 400 billion mark for the first time. Whereas the foreign exchange reserves in 2014 were close to $ 311 billion during the UPA regime.