Mumbai: Foreign Direct Investment (FDI) equity flows into India jumped 48% on year in April-June quarter to $16.1 billion. Data released by the Department for Promotion of Industry and Internal Trade showed this.
The bulk of the investment were on services sector, computer software and non-conventional energy sectors. Other sectors where foreign investor interest was high are automobiles, telecom, trading, pharma and chemicals.
Service sector, which includes financial, banking and business outsourcing, saw FDI of $3.9 billion in April-June this year. It was at $6.6 billion in the same period last year. In computer software and hardware the inflows slumped to $2.7 billion from $7.9 billion last year. In trading the FDI declined to $460 million from $3.8 billion. In non-conventional energy FDI was down to $1.0 billion from $3.7 billion.
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Most of the FDI in April-June of around $3.9 billion was routed through Singapore. Mauritius was the second biggest source of FDI during the period with inflows of $3.2 billion, followed by the Netherlands at $2.4 billion.
Total FDI, which includes equity inflows, reinvested earnings and other capital, grew by 28 per cent to $22.49 billion during the first quarter of this fiscal from $17.56 billion in April-June 2023-24. In 2023-24 FDI equity inflows had declined 3.5% on year to $44.4 billion.
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