FDI Up 15% To $30 Bn During April-Sep 2020: Govt Data

FDI Up 15% To $30 Bn During April-Sep 2020: Govt Data
PTI - 28 November 2020

Foreign direct investment (FDI) into India grew by 15 per cent to $30 billion during the first half of the current fiscal, according to official data.

Inflow of FDI during April-September 2019-20 stood at $26 billion, as per the data of the Department for Promotion of Industry and Internal Trade (DPIIT).

In July, the country had attracted $17.5 billion worth of foreign investments.

Sectors which attracted maximum foreign inflows during April-September 2020-21 included computer software and hardware ( $17.55 billion), services ( $2.25 billion), trading ( $949 billion), chemicals ( $437 million) and automobiles ($ 417 million).

Singapore emerged as the largest source of FDI in India during the period with USD 8.3 billion investments. It was followed by the US ( $7.12 billion), Cayman Islands ( $2.1 billion), Mauritius ( $2 billion), the Netherlands ( $1.5 billion), UK ( $1.35 billion), France ( $1.13 billion) and Japan ( $653 million).

Further, according to DPIIT, total FDI (including reinvested earnings) stood at about $40 billion.

FDI is a major driver of economic growth and an important source of non-debt finance for the economic development of the country. The government has carried out FDI reforms in various sectors, including contract manufacturing and coal mining.

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