India’s macro fundamentals not affected by Adani’s FPO withdrawal

INTERNATIONAL DESK: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Saturday said India’s macro fundamentals and economic image are not affected by the Adani Group’s withdrawal of its Rs 20,000 crore FPO.

In the last two days alone, USD 8 billion in forex came in, the finance minister said during a post-Budget press conference.

“…our macro economic fundamentals or our economy’s image, none of which has been affected. Yes, FPOs (follow-on public offers) come in, and FIIs get out,” Sitharaman told reporters here.

She said the regulators will do their job on the Adani issue. The Securities and Exchange Board of India (Sebi) has the wherewithal to ensure the stability of markets. (PTI)