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Adani row: FM Nirmala Sitharaman's '8 billion' answer on possible impact on India's position in markets

Name: Adani row: FM Nirmala Sitharaman's '8 billion' answer on possible impact on India's position in markets
Uploaded: 2023-02-04T15:32:55.000+05:30
Duration: T01M17S
Channel: Editorji News Desk
Description: Union finance minister Nirmala Sitharaman commented on the Adani group cancelling its ₹20,000 crore follow-on public offer (FPO).

Union finance minister Nirmala Sitharaman commented on the Adani group cancelling its ₹20,000 crore follow-on public offer (FPO).

Updated: Sep 02, 2022 10:53

Editorji News Desk

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Adani row: FM Nirmala Sitharaman's '8 billion' answer on possible impact on India's position in markets

Days after the Adani group decided to cancel its ₹20,000 crore follow-on public offer (FPO) due to its stocks taking a massive hit, Union finance minister Nirmala Sitharaman commented on whether it affected India's position in the global markets.

The minister said, "Foreign exchange reserves in the last 2 days have gone up by 8 billion. Our macroeconomic fundamentals or our economy's image - none of it has been affected."

"Yes, FPOs come in and FIIs get out. These fluctuations are there in every market," she added.

The minister concluded by saying, "The fact that we've had 8 billion come in in the last few days proves that the perception about India and its inherent strengths is intact."

Also Watch: Budget 2023 Real estate sector, homebuyers' expectations

Frequently Asked Questions

What was the reason behind the Adani group's decision to cancel its ₹20,000 crore follow-on public offer (FPO)?❯

The Adani group decided to cancel its ₹20,000 crore follow-on public offer (FPO) due to its stocks taking a massive hit.

How did Union finance minister Nirmala Sitharaman respond to the impact of the FPO cancellation on India's position in the global markets?❯

What did Sitharaman mean by the statement 'Yes, FPOs come in and FIIs get out. These fluctuations are there in every market'?❯

What evidence did Sitharaman provide to support her claim that India's perception and inherent strengths remain intact?❯

What additional context does the article provide related to the financial market situation?❯

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Adani row: FM Nirmala Sitharaman's '8 billion' answer on possible impact on India's position in markets

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