ECONOMY

FDI Inflows Hit All-Time High Of $83.57 Billion In FY22

India has recorded the ‘highest ever’ annual foreign direct investment inflows of $83.57 billion in 2021-22, the commerce and industry ministry said on Friday.

In 2020-21, the inflow stood at $81.97 billion, it added.

“India is rapidly emerging as a preferred country for foreign investments in the manufacturing sector,” the ministry said.

“India has recorded highest ever annual FDI inflow of $83.57 billion in the Financial Year 2021-22,” it noted.

FDI equity inflow in manufacturing sector increased by 76% in 2021-22 to $21.34 billion compared to $12.09 billion in 2020-21.

In terms of top investor countries, Singapore is at the top with 27% followed by the U.S. at 18% and Mauritius at 16% during the last fiscal.

Among sectors, computer software and hardware attracted maximum inflows. It was followed by the services sector and automobile industry, the ministry said.

To further liberalise and simplify FDI policy for providing ease of doing business and attract investments, reforms have been undertaken recently across sectors, such as coal mining, contract manufacturing, digital media, single-brand retail trading, civil aviation, defence, insurance and telecom.

. Read more on Business News by BloombergQuint.

Most Related Links :
honestcolumnist Governmental News Finance News

Source link

Back to top button