The total Foreign Direct Investment (FDI) inflow into India grew 18 per cent in 2019-20 to $73 billion, Commerce and Industry Minister Piyush Goyal has said. “This long-term investment will spur job creation,” the Minister said in a tweet late on Thursday.
Goyal pointed out that the total FDI had doubled from 2013-14 when it was only $36 billion. The increase was another strong vote of confidence in Make in India, he added.
The total investments by Foreign Institutional Investors (FIIs) was $247 million, as per figures released by DPIIT.
Services was the top performing sector, attracting foreign inflows worth $ 7.5 billion in 2019-20, but it was lower than the previous year’s inflow of $ 9.1 billion.
Other top performers included computer software and hardware at $ 7.67 billion, telecommunications at $ 4.44 billion, trading at $ 4.57 billion and automobiles at $ 2.82 billion. Investment in construction was lower at $2.25 billion in 2019-20, compared to $2.73 billion in the previous year.
Singapore was the top contributor, accounting for FDI worth $ 14.6 billion in 2019-20, but it was lower than $ 16.2 billion that flowed in from the country the previous year. Mauritius, Netherlands and the US were the other top sources of FDI in 2019-20.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.