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FDI bright spark amid weak external indicators in October
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external sector parameters weakened in October. The only exception was gross foreign direct investment, which rose 14% to $6.8 billion in October.
However, other indicators showed a decline. Non-resident Indian (NRI) deposits and outward remittances under the liberalised remittance scheme slowed in October. The performance indicator that suffered the most was net portfolio investments, which witnessed outflows of over $10 billion after seeing steady inflows in the previous three months.
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