New Delhi, July 22 (Reporter) Attributing it to global trend, Economic Survey tabled in Lok Sabha on Monday said net foreign direct investment (FDI) inflows to India declined to US$ 26.5 billion in fiscal 2023-24 (FY24) from US$ 42.0 billion during FY23. "Net FDI inflows, however, witnessed moderation largely as a part of the global phenomenon of declining FDI flows on account of increased scepticism," the Survey said. The key economic document of the government however noted that gross FDI inflows moderated by only 0.6 per cent in FY24. "The contraction in net inflows was primarily due to a surge in repatriation/disinvestment," it said. The decline in FDI inflows in recent years is also attributable to higher interest rates in developed countries and attractive exits out of India due to the buoyant stock market. The Survey said that India’s external sector is being deftly managed with comfortable foreign exchange reserves and a stable exchange rate. As per the Economic Survey, India's forex reserves as of the end of March 2024 were sufficient to cover 11 months of projected imports and more than 100 per cent of total external debt...////...