23 Sep , 2021 By : monika singh
Foreign direct investments (FDI) into the country more than doubled to $20.42 billion during the April-July period of the current fiscal, the commerce and industry ministry said on Wednesday. This is a whopping 112% increase from $9.61 billion of FDI equity inflows in the same period last year.
Total FDI- that includes equity inflows, reinvested earnings and other capital-rose 62% on-year to $27.37 billion during the first four months of FY22 as against $16.92 billion in the corresponding period a year ago.
“Automobile Industry has emerged as the top sector during the first four months of FY22 with 23% share of the total FDI Equity inflow followed by Computer Software & Hardware (18%) and Services Sector (10%) respectively,” the ministry said in a statement.
Under the sector Automobile Industry, majority of FDI Equity inflow of 87% was reported Karnataka.
“Measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country,” the ministry said.
Overall, among states, Karnataka was the top recipient of investment from overseas with 45% share of the total FDI equity inflows followed by Maharashtra (23%) and Delhi (12%).
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