Statement made on digital platform by Raghav Chadha, MP (RS)
KRC Times Tell Tale Teaser Team
I welcome the hike in NRI investment limit. It will unlock ‘Diaspora Capital.’ However, we must also ask why FIIs and foreign portfolio investors are pulling money out of India. In Parliament, I acknowledged the enhancement in the NRI investment limit. It gives nearly 32 million NRIs a bigger window to invest in India. But it only came after foreign investors pulled out about 23 billion in the last one year. Along with opening the door for NRIs, the government must address the underlying reasons behind the foreign money outflow. Because if we desire ‘sustainable capital flows’, then we must restore confidence, not just raise limits.
~Raghav Chadha, MP (RS)
