FDI jumps 13% in India for FY20, records growth from FY19
FDI (Foreign Direct Investment) in India recorded a 13% rise recording $49.97 billion in FY (financial year) 20. This is higher than last year which was $44.36 billion.
The official data that was released on Thursday showed the FDI inflows of $13.2 billion in the quarter that ended in March.
The data released by the Department of Promotion of Industry and Internal Trade indicated the leading source of FDI in the financial year 2019-20 to be Singapore accounting for $14.67 billion. The second source was Mauritius at $8.24 billion.
The top sector sources of FDI were services, trading, telecommunications, computer software and hardware, and hotel and tourism.
The report released indicated the sector-wise breakup of the FDI sourcing. While the services sector accounted for to$7.85 billion worth of FDI, the computer software and hardware sector investment garnered $7.67 billion. The trading sector recorded $4.57 billion.
The Telecommunications sector attracted $4.44 billion worth of foreign investments. Furthermore, the hotel and tourism industry drew foreign inflows worth $2.93 billion in the FY20.
FDI inflows were recorded the highest in January with $5.57 billion while February was the least with $3.36 billion.
The FDI through Reserve Bank of India’s automatic route and Acquisition route rose to 13% in this financial year. This also includes equity capital of bodies that are not incorporated along with reinvested earnings.
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