India’s FDI inflows grow 62% in first four months of current financial year
These trends endorse India's status as a preferred investment destination amongst global investors
India has attracted total FDI inflow of US$ 27.37 billion during first four months of FY 2021-22 which is 62% higher as compared to corresponding period of FY 2020-21 (US$ 16.92 billion).
Measures taken by the Government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows in the country, said a statement of the Ministry of Commerce and Industry on Wednesday.
‘Automobile Industry’ emerged as the top sector during the first four months of FY 2021-22 with 23% share of the total FDI Equity inflow followed by Computer Software & Hardware (18%) and Services Sector (10%) respectively.
Under the sector `Automobile Industry’, the majority of FDI Equity inflow (87%) was reported in the state of Karnataka during the first four months of the current financial year (2021-22).
Meanwhile, Karnataka is the top recipient state during the F.Y. 2021-22 (upto July, 2021) with 45% share of the total FDI Equity inflows followed by Maharashtra (23%) and Delhi (12%), the ministry informed.
According to the statement, these trends in India’s Foreign Direct Investment are an endorsement of its status as a preferred investment destination amongst global investors.