Apr-Sep FDI inflow at $30B; Mauritius, Singapore top sources

With India being an attractive destination for foreign funds despite the pandemic, FDI inflow rose 15 per cent during the April-September period to $30 billion. During the same period last fiscal, total FDI inflow stood at $26 billion.

According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), Mauritius and Singapore were the biggest sources of FDI for India with 29 per cent and 21 per cent contribution respectively.

The US, Netherlands and Japan followed with 7 per cent contribution each.

Among the sectors, services sector continued to lead with the highest amount of FDI coming in. The sector which includes financial, banking, insurance, outsourcing, R&D among others, received 17 per cent of the FDI equity inflow during the period under review.

Computer software and hardware segment got 12 per cent FDI inflow while the telecom sector received 7 per cent

Among the states, Gujarat attracted the highest FDI equity inflow with 35 per cent of the overall funds coming in during April-September, followed by Maharashtra (20 per cent), Karnataka (15 per cent) and Delhi (12 per cent).

Inflow of foreign investments has been on the rise after the governments around the world along with India announced liquidity measures in the wake of the pandemic.

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The Centre has also announced liberalising measures for FDI in several sectors including contract manufacturing, coal mining and defence which are likely to fetch in more investments.

The story has been taken from a news agency