There are signs of recovery in portfolio investments to the EMEs. For instance, portfolio investments by FIIs in the Indian equity market amounted to $ 13.6 billion in the period April 1 – September 18, 2009 as against outflows of $ 5.2 billion in the corresponding period of 2008 reflecting a turnaround of almost $ 19 billion.
13 The MPC includes two external members to add to the Committee’s diversity of backgrounds and views. These external members provide a ‘reality check’ on the Bank’s thinking, and subject us to valuable independent scrutiny.