New Delhi, April 5 (IANS) India has attracted record total FDI inflow for the first ten months of a financial year in 2020-21.
Accordingly, the inflow rose to $72.12 billion during April to January, 2021, 15 per cent higher as compared to the first ten months of 2019-20, when it stood at $62.72 billion.
“The trends show that the FDI equity inflow grew by 28 per cent in the first ten months of F.Y. 2020-21 ($54.18 billion) compared to the year ago period ($42.34 billion),” the Ministry of Commerce and Industry said.
“In terms of top investor countries, ‘Singapore’ is at the apex with 30.28 per cent of the total FDI equity inflow followed by USA (24.28 per cent) and UAE (7.31 per cent) for the first ten months of the current financial year 2020-21.”
According to the ministry, Japan has been leading the list of investor countries to invest in India with 29.09 per cent of the total FDI equity inflows during January, 2021, followed by Singapore at 25.46 per cent and the US 12.06 per cent.
“The ‘Computer Software & Hardware’ has emerged as the top sector during the first ten months of F.Y. 2020-21 with 45.81 per cent of the total FDI equity inflow followed by ‘Construction (Infrastructure) Activities’ (13.37 per cent) and ‘Services Sector’ (7.80 per cent) respectively.”
As per the trends, the consultancy services emerged as the top sector with to rceive 21.80 per cent of the total FDI equity inflow in January followed by ‘Computer Software & Hardware’ (15.96 per cent) and ‘Service Sector’ (13.64 per cent).
“These trends in India’s Foreign Direct Investment are an endorsement of its status as a preferred investment destination amongst global investors.”