Foreign direct investments (FDI) into the country grew 19 per cent to USD 59.64 billion during 2020-21 on account of measures taken by the government on the fronts of policy reforms, investment facilitation and ease of doing business, the commerce and industry ministry said on Monday.
Total FDI, including equity, re-invested earnings and capital, rose 10 per cent to the "highest ever" of USD 81.72 billion during 2020-21 as against USD 74.39 billion in 2019-20.
"FDI equity inflow grew by 19 per cent in 2020-21 (USD 59.64 billion), compared to 2019-20 (USD 49.98 billion)," the ministry said in a statement.
In terms of top investor countries, Singapore is at the top with 29 per cent share. It was followed by the US (23 per cent) and Mauritius (9 per cent) during the last fiscal.
"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," it said.
It added that the inflows are an endorsement of India's status as a preferred investment destination among global investors.
The computer software and hardware sector attracted the highest inflows with around 44 per cent share of the total FDI equity inflows. It was followed by construction (infrastructure) activities (13 per cent) and services sector (8 per cent), respectively.
"Gujarat is the top recipient state during 2020-21 with 37 per cent share of the total FDI equity inflows, followed by Maharashtra (27 per cent) and Karnataka (13 per cent)," it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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