Cumulatively for the March quarter, FPIs were net sellers in the Indian equity markets to the tune of USD 6.4 billion, which is in sharp contrast to the previous quarter, when they bought net assets worth USD 6.3 billion.

Talking about India’s response to the COVID-19 battle, Vardhan said the country took all necessary steps well in time, including surveillance at points of entry, evacuation of nationals stranded overseas, massive community surveillance through robust disease surveillance network, strengthening of health infrastructure, capacity building of over two million frontline human resources, risk communication and community involvement.

New cases have continued to rise by an average of over 4,000 each day over the past week. India officially extended its lockdown on Sunday to May 31, although several states indicated they would allow businesses to reopen.