Foreign Direct Investment In India Jumps 13% To USD 49.97 Billion, Highest In Last Four Years

Singapore emerged as the largest source of foreign fund flows in India for the second consecutive time, followed by Mauritius and Netherlands.

India   |   29 May 2020 3:26 PM GMT
Writer : Devyani Madaik | Editor : Prateek Gautam | Creatives : Nandan M
Foreign Direct Investment In India Jumps 13% To USD 49.97 Billion, Highest In Last Four Years

Foreign Direct Investment (FDI) in India rose to a record level of USD 49.97 billion (about Rs 3.75 lakh crore), up by 13%, for the financial year (2019-20), according to the Department for Promotion of Industry and Internal Trade (DPIIT) data.

The jump has been the highest in four years.

Total FDI into India, including re-invested earnings and other capital in 2019-20, stood at USD 73.45 billion from USD 62 billion in the last fiscal year, an increase of 18%.

The country received FDI of $44.36 billion during April-March 2018-19. Major sectors that drew maximum foreign inflows include:

  • Services (USD 7.85 billion, highest investment)
  • Computer software and hardware (USD 7.67 billion)
  • Telecommunications (USD 4.44 billion)
  • Trading (USD 4.57 billion)
  • Automobile (USD 2.82 billion)
  • Construction (USD 2 billion)
  • Chemicals (USD one billion)

Singapore emerged as the largest source of foreign fund flows in India for the second consecutive time, with USD 14.67 billion FDI inflow. However, this was lower than the 2018-19 investment of USD 16.22 billion.

Mauritius was second with USD 8.24 billion, the Netherlands (USD 6.5 billion), the US (USD 4.22 billion), Cayman Islands (USD 3.7 billion), Japan (USD 3.22 billion), France (USD 1.89 billion), UK (USD 1.42 billion) Cyprus (USD 879 million), and Germany (USD 488 million).

FDI is recognised as one of the powerful dynamics for economic growth of any country, and is believed to enable countries to build up physical capital, create employment opportunities and so forth.

Commerce and Industry Minister Piyush Goyal tweeted that the figures show foreign countries' trust in the government's Make In India initiative.

The overseas inflows between January-March 2020 quarter also increased to USD 13.2 billion from USD 10.67 billion in the previous quarter (October-December 2019).

Also Read: Himachal Pradesh BJP Chief Rajeev Bindal Resigns A Week After COVID-19 Medical Supply Purchase Scam

Suggest a correction

    Help Us Correct

    To err is human, to help correct is humane
    Identified a factual or typographical error in this story? Kindly use this form to alert our editors
  • *
  • *
  • *
  • Form Submitted Successfully
    Error in submitting form. Try again later

Contributors

Devyani Madaik

Devyani Madaik

Trainee Digital Journalist

A media enthusiast, Devyani believes in learning on the job and there is nothing off limits when it comes to work. Writing is her passion and she is always ready for a debate as well.

Prateek Gautam

Prateek Gautam

Digital Editor

A free soul who believes that it is journalism apart from politics which should stand for the social cause and environment

Nandan M

Nandan M

Trainee Creative Producer

Creative designer Skilled in Photography, Graphics, Typography, Animation, and Editing. Strong arts and design professional with a diploma focused on adobe suit.

Next Story