Indian Union Minister of Finance, Nirmala Sitharaman stated that retail investors have invested confidence in the market of the country and that foreign institutional investors and foreign portfolio investment cannot be used alone to measure investment. Responding in Lok Sabha during question hour, Nirmala Sitharaman stated that India was the top recipient of foreign direct investment before COVID-19, and that foreign direct investment money is now being invested in India.
During question hour, the issue of FIIs and FPIs withdrawing investments in the recent months was raised. Investing by such investors depends on interest rates as well, said the finance minister, and they can be tempted. According to her, retail investors have proved their importance in the country’s economy and have invested their confidence in the market.