The accretion to the forex reserves in the last eight months was $100 billion
There are green shoots visible in various sectors of the economy. The country is already looking at a 'V-shaped' recovery with FPI inflows of Rs 25,787 crore, Minister of State for Finance and Corporate Affairs, Anurag Thakur said on Saturday, at a virtual conclave organised by the Institute of Actuaries of India.
After two consecutive quarters of contraction, the country's GDP (Gross Domestic Product) entered into positive territory with a growth of 0.4 per cent in the October-December quarter of the current fiscal, according to the data released by the NSO (National Statistical Office) in February.
Thakur said the country's foreign exchange reserves, which have been steadily increasing over the last few months, had touched all time high at $590 billion in January 2021.
He said the accretion to the forex reserves in the last eight months was $100 billion.
"These are signs of confidence that the global funds and investors look at India as a destination to invest and they are bullish about India's growth story," Thakur added.