Solution

According to the latest data released by the Reserve Bank of India, the gross foreign direct investment (FDI) flows witnessed a decline of nearly 16 per cent to $71 billion.       The net FDI also witnessed a decline of nearly 27 per cent to $28 billion in 2022-23 as against $38.6 billion a year ago. The decline was attributed to moderation in gross foreign direct investment inflows and an increase in repatriation.     The highest decline in FDI inflows as against the previous year was recorded in manufacturing, computer services, and communication services and the countries which were the major contributors to the fall during the period were the US, Switzerland, and Mauritius.