DBS CEO Tan Su Shan Says FCNR Deposits Show Overseas Confidence in India
· Business · Economic Times, Bloomberg
DBS Bank CEO Tan Su Shan said strong demand for FCNR(B) deposits reflects overseas confidence in India despite capital outflow pressures. Foreign investors have net sold $7.76 billion in Indian equities over the past two months, weighing on the rupee near historic lows. Indian banks have mobilised $133 billion under the FCNR(B) scheme, which Tan said proves global faith in Indian credits. She urged India to attract more foreign direct investment and boost exports to stabilise the currency. Tan also said India has potential to become a global winner in artificial intelligence due to its software talent and digital infrastructure. She noted India needs to develop hardware and precision-engineering capabilities to complement its software strengths.
Why it matters
Overseas investors and Indian policymakers are directly affected, as the findings highlight pathways to support the rupee and attract durable capital. The focus on FDI, exports, and AI hardware development signals actionable steps for economic resilience and technological advancement.
Read the original report — Economic Times
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.