What is the News?
Department for Promotion of Industry and Internal Trade(DPIIT), Ministry of Commerce and Industry has released details of Foreign Direct Investment(FDI inflow) into India in FY 21-22.
What are the key highlights from FDI inflows into India in FY 21-22?
FDI Inflow: India has reported the highest foreign direct investment(FDI inflow) to the tune of $83.57 billion for the financial year 2021-2022.
Note: India’s foreign investment inflows increased 20-fold since the financial year 2003-04 when it recorded a mere $4.3 billion.
Source of FDI equity Inflow: Among the top contributors to India’s FDI inflow, Singapore topped the charts with a share of 27% followed by the US (18%) and Mauritius accounting for 16%.
Sectors: The computer software and hardware remained the top sector which received the FDI inflow with around 25% share followed by services sector and automobile sector getting 12% each.
States: Karnataka is the top recipient state with 38% share of the total FDI Equity inflow reported during the previous financial year followed by Maharashtra (26%) and Delhi (14%).
Source: The post is based on the article “India gets the highest annual FDI inflow of USD 83.57 billion in FY 21-22” published in PIB on 20th May 2022.