India’s foreign direct investment surged to $8.8 billion in April, a 22% increase year-over-year, bolstering the RBI’s foreign exchange reserves. While non-resident deposit inflows slowed, overall external commercial borrowing rose significantly. Despite a drop in foreign portfolio investment, India’s external sector remains resilient, with forex reserves reaching $698.95 billion in June.
Sebi clears IPOs of Avaada, Grand Housing & 2 others
The Securities and Exchange Board of India has approved IPOs for four companies, including Avaada Electro, Brookfield-backed Avaada Group’s solar PV manufacturing arm. Chennai-based Grand