Foreign direct investment (FDI) in India doubled to USD 17.57 billion during its April-June quarter. This was initiated as into reform policy reforms and ease of doing business, an official statement averred on Saturday.
Overall FDI inflow went to USD 22.53 billion over the due course of the first three months of FY22 compared to USD 11.84 billion in the same period of the last year, it added. “FDI equity inflow grew by 168 per cent in the first three months of 2021-22 (USD 17.57 billion) compared to the year-ago period (USD 6.56 billion),” it said.
The official data displayed that the automobile industry is one of the topmost sectors accounting 27 per cent share of the overall FDI equity inflows. This data was further supported by computer software and hardware (17 per cent) and service Sector statistics (11 per cent). Karnataka enjoys the maximum share of 48 per cent of the overall FDI equity inflows in April-June 2021. Next in line came Maharashtra with 23 per cent and Delhi with 11 per cent respectively.
Measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased foreign inflows into the country, the commerce and industry ministry said. The FDI trends are an endorsement of India’s status as a preferred investment destination amongst global investors, it added.