India GDP increases by 13.5% in Q1 FY23

India GDP increases by 13.5% in Q1 FY23

• As per the official data, Indian economy has been grown by 13.5% in the April-June period 2022, this is the fastest in the last four quarters.
• Reason: Better performance by the agriculture and services sectors.
• India has also remained the fastest growing major economy as China registered economic growth of 0.4% in the April-June 2022 quarter.
• As per the data released by the National Statistical Office, the Indian economy has been grown by 20.1% in April-June 2021-22.

India Inc's foreign investment declines over 50% in July

• As of 31st August 2022, as per the RBI data, the India Inc's foreign direct investment has been declined over 50% to $1.11 billion in July 2022
• The domestic firms had invested over $2.56 billion on Outward Foreign Direct Investment in July 2021 in the form of equity, loan and issuances of guarantees
• The Indian businesses has invested $579.15 million by equity infusion, $193.21 million as loans and $337.49 million infused by issuing guarantees to their overseas ventures.