US is India’s top FPI contributor in FY24, Luxembourg 2nd: SEBI

The highest number of Foreign Portfolio Investors, or FPIs, that India attracted in the fiscal year 2023-’24 (FY24) belongs to the Unites States of America followed by Luxembourg and Canada, a report by the Securities and Exchange Board of India (SEBI) has stated.

The number of FPIs recorded was 11,219 FPIs at the end of FY24, up from 11,081 in the earlier fiscal year. Of these, the United States (US) accounted for 3,457 investors. Luxembourg was at the second spot with 1,393 investors followed by Canada with 804.

“As on March 31, 2024, 11,219 FPIs were registered in India from various jurisdictions. The highest registration was from USA (3,457) followed by Luxembourg (1,393) and Canada (804),” the SEBI report said.

According to the report FY24 was an exceptional year for India in terms of foreign portfolio investment inflow, and the fiscal year marked the nation’s highest foreign portfolio investment in more than three decades since FY93.

The report also gave an idea of FPI distribution in terms of Assets Under Custody (AUC), which denotes the total value of assets foreign investors may hold under custody and manage. The report showed there was a substantial increase in AUC value. As on March 31, FPI custodians’ AUC rose to Rs 69.5 lakh crore from Rs 48.7 lakh crore in the end of FY23. This marked a growth of 42.8 per cent.

Equity assets comprised around 92.2 per cent of the entire AUC amount, with the United States contributing the biggest share at 39.2 per cent. Singapore with 9.8 per cent is at the second spot and Luxembourg at 7.1 per cent came in third.