Business

FDI inflow at record high in FY2020-21

New Delhi, May 24 (UNI): India attracted the highest ever total Foreign Direct Investment (FDI) inflow of $81.72 billion during fiscal year 2020-21, up 10% from the previous financial year, the government said on Monday.

The government attributed this to measures taken by it for FDI policy reforms, investment facilitation and ease of doing business.

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The Ministry of Commerce and Industries said in a statement that FDI equity inflow grew 19% in the financial year 2020-21 to reach $59.64 billion.

Singapore was the top investor country accounting for 29% of the total FDI, followed by the US with 23% and Mauritius with 9% for the financial year 2020-21.

“Computer software and hardware has emerged as the top sector during the financial year 2020-21 with around 44% share of the total FDI equity inflow, followed by construction (infrastructure) activities (13%) and services sector (8%), respectively,” the ministry said.

“Under the sector computer software and hardware, the major recipient states are Gujarat (78%), Karnataka (9%), and Delhi (5%) in financial year 2020-21.”

Gujarat was the top recipient state during financial year 2020-21 with 37% share of the total FDI equity inflows, followed by Maharashtra with 27% and Karnataka with 13%, the ministry said.

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