Singapore has emerged as the largest source of FDI in India during the last fiscal with $14.67 billion investments. The Foreign direct investment into India rose 13% to a record of around $49.97 billion in FY20 from $44.36 billion a year earlier, as the official data released on Thursday showed. Services have garnered FDI worth $7.85 billion whereas investments in computer software and also hardware were $7.67 billion, and so also in trading was $4.57 billion. Telecommunications that drew FDI worth $4.44 billion in FY20, and also hotel & tourism attracted around $2.93 billion of foreign inflows. While FDI through FIPB route or RBI’s Automatic Route/Acquisition Route rose 13% on the year, total FDI that also includes equity capital of unincorporated bodies, reinvested earnings and other capital was up around 18% on year to $73.45 billion, much more than double from $36.04 billion in 2013-14.
Foreign direct investment (i.e. FDI) in India grew by 13 per cent to a record of USD 49.97 billion in the 2019-20 financial year, in accordance with official data.
The country had received FDI of USD 44.36 billion during April-March 2018-19. Sectors which attracted maximum foreign inflows during 2019-20 include services USD 7.85 billion, computer software and hardware USD 7.67 billion, telecommunications USD 4.44 billion, trading USD 4.57 billion, automobile USD 2.82 billion, construction USD 2 billion, and chemicals USD one billion, the Department for Promotion of Industry and Internal Trade (DPIIT) data showed. Singapore has emerged as the largest source of FDI in India during the last fiscal with USD 14.67 billion investments.
It was followed by Mauritius (USD 8.24 billion), the Netherlands (USD 6.5 billion), the US (USD 4.22 billion), Caymen Islands (USD 3.7 billion), Japan (USD 3.22 billion), and France (USD 1.89 billion). FDI isas important as the country requires major investments to overhaul its infrastructure sector to boost growth.