India has recorded the “highest ever” annual FDI (foreign direct investment) inflow of USD 83.57 billion in 2021-22, the commerce and industry ministry said on Friday. In 2020-21, the inflow stood at USD 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 USD 83.57 billion in the Financial Year 2021-22,” it noted. FDI equity inflow in manufacturing sectors has increased by 76 per cent in 2021-22 (USD 21.34 billion) compared to 2020-21 (USD 12.09 billion).
In terms of top investor countries, Singapore is at the top with 27 per cent followed by the US (18 per cent) and Mauritius (16 per cent) 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 all the Latest Business News here
Comments
0 comment