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.

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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