FDI inflow into India doubles in July-Sep Quarter despite COVID-19 challenges
The services sector has received maximum FDI equity inflows, followed by Computer Software and Hardware, and Telecommunications
Even amid the economic challenges posed by Covid-19, the total Foreign Direct Investment (FDI) inflow into India has doubled to $28.1 billion in the July-September quarter this fiscal, from $14.06 billion in the same period last year.
“Indicating global investors’ preference for India’s enabling environment under PM Narendra Modiji, FDI increased from $14.06 billion to $28.1 billion in the July-September quarter,” tweeted Commerce and Industry Minister Piyush Goyal on Saturday.
Despite COVID, Foreign Direct Investment doubles year-on-year ⬆️— Piyush Goyal (@PiyushGoyal) November 28, 2020
Indicating global investors' preference for India's enabling environment under PM @NarendraModi ji, FDI increased from $14.06 billion to $28.1 billion in the July-September quarter.
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Out of the FDI inflows, the total FDI equity inflows were US$ 23,441 million in the same quarter. This takes the FDI equity inflows during the financial year 2020-21 up to September 2020 to US$30,004 million which is 15 percent more than the corresponding period last year, said the Ministry of Commerce and Industry in a statement.
In terms of the countries from where FDI Equity Inflows were reported to India, from April 2000 to September 2020; maximum FDI Equity inflows have been reported from Mauritius, followed by Singapore and the USA.
The other top investors included the Cayman Islands, the Netherlands, UK, France, Japan, Cyprus, and Germany.
Among the sectors, the services sector has received maximum FDI equity inflows, from April 2000 to September 2020 followed by Computer Software and Hardware, and Telecommunications.
The other top sectors included trading, construction and development, automobile, chemicals, construction activities, drugs and pharmaceuticals, and hotel and tourism.
The state receiving the highest FDI inflows so far this fiscal year has been Gujarat with Rs 1.19 lakh crore worth of inflows. Karnataka and Maharashtra both received over Rs 27,000 crore of FDI inflows while Delhi clocked in at Rs 19,863 crore.