Hardening interest rates globally and worsening geo-political situation have impacted the foreign direct investment (FDI) inflows into India in 2022-23, a top government official said on Tuesday.
Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that the department would analyse the reasons for the contraction in FDI in five important sectors like computer hardware and software; construction, education, automobiles and metallurgical industries.
"I cannot think of any other reason. It is not as if our FDI policies have become protectionist....more On the contrary, we have kept it very very liberal ... The decline is combination of hardening of interest rates along with geo-political risks going up around the world. In general the appetite may be less," Singh told PTI in an interview.
These five sectors had a share of USD 30 billion in India's total FDI in 2021-22 and in the last fiscal year, overseas inflows have almost halved.
Foreign direct investment (FDI) into India declined by 22 per cent to USD 46 billion in 2022-23, dragged by lower inflows in computer hardware and software, and automobile industry, according to the Department for Promotion of Industry and Internal Trade (DPIIT) data.
The FDI inflows stood at USD 58.77 billion during 2021-22.
Total FDI inflows, which include equity inflows, re-invested earnings and other capital, declined by 16 per cent to USD 70.97 billion in the last fiscal as against USD 84.83 billion in 2021-22.
During April-March 2022-23, Singapore emerged as the top investor with USD 17....more2 billion FDI.
It was followed by Mauritius (USD 6.13 billion), the US (USD 6 billion), the UAE (USD 3.35 billion), the Netherlands (USD 2.5 billion), Japan (USD 1.8 billion), UK (USD 1.73 billion), Cyprus (USD 1.27 billion), Cayman island (USD 772 million), and Germany (USD 547 million), the data showed.
The FDI inflows have contracted in 2022-23 from Mauritius, the US, the Netherlands, the
India is the best performing market in May so far with a 2.8 per cent rally in Nifty as against the negative returns in European markets and just 1 per cent return in S&P 500. The performance of other emerging markets also is lacklustre.
In the same way that we now take pictures of receipts to expense that ‘important lunch’, construction tech startup Qflow allows the teams running construction sites to do the same for building materials. Sounds like a no-brainer, right? However, it’s more innovative and less trivial than it sounds. To date, there hasn’t been a company that’s done this — as far as TechCrunch is aware — making Qflow pretty unique. It also has a de-carbonisation angle: if you can track construction materials more efficiently then you can track carbon inputs and outputs. This is especially important, g...moreiven that the construction industry is one of the biggest carbon emiters, accounting for 11 percent of global carbon emissions.
The company has now closed a $9.1 million (£7.2M) Series A funding round led by climate tech VC Systemiq Capital, to fuel is growth in the US and Australia. Also participating is Ascension Ventures, Bridge Investment Group, Gravel Rd, Greensoil Proptech Ventures, Grosvenor, John Emrey (CEO of Alder properties), MMC, and Suffolk Tech.
Qflow says its platform allows construction teams to collect real-time materials and waste data, allowing those teams to make more informed decisions on cost, carbon, and quality, driving more transparency and efficiency
Qflow previously raised £2.4 million across two seed rounds, with investment from PiLabs, MMC, Goldacre, Entrepreneur First (EF London 10) and angel investors.
Founded in 2018 by Brittany Harris and Jade Cohen, both with experience in the construction industry. The pair met volunteering for World Merit, an SGGs community.
Over an interview, Brittany Harris, Co-Founder & CEO of Qflow, told me: “Construction is one of the most carbon intensive industries in the world. And it’s a bit of a nightmare to decarbonize because there are so many moving parts. Qflow is ultimately the simplest way of capturing all the information you need in order to understand the carbon impact of construction and then use that to decarbonize. It’s all about reducing that right way, but in the long run, it’s about unlocking the economy across urban mining.”
An urban mine is the stockpile of rare metals in the discarded waste electrical and electronic equipment of a society.
Qflow says cliewnts using the platform now include Berkeley Group, Canary Wharf Group, Grosvenor, Landsec, Morgan Sindall, Multiplex, Workplace Futures and others.
Matthew Goldstein, General Partner at Systemiq Capital, said in a statement: “Qflow uniquely aligns the goals of construction CFOs and sustainability executives, accelerating customers’ decarbonisation ambitions while saving them time, money, and reducing regulatory risk.”
Qflow raises $9.1M to track construction receipts, making it easier to de-carbonize by Mike Butcher originally published on TechCrunch...
Intellasia East Asia News SINGAPORE - Media OutReach - 29 May 2023 - In response to the revived event industry, The Little Flower Shop is excited to unveil its latest addition: a specialised B2B service for floral installations and decorations. This innovative expansion posi...