Current AffairsEconomics

India among the best performers in attracting FDI

According to a report released by the United Nations Conference on Trade and Development (UNCTAD) on Monday, India is among the countries that have witnessed a positive growth rate in FDI equity inflows in 2020 as compared to 2019. While major economies like the USA, Singapore, Germany, Brazil, Canada, UAE have seen a negative trend. India has seen a growth of 25 per cent in 2020 as compared to 2019.
  • India’s FDI inflow increases 38% to $6.24 billion in April 2021
  • India had attracted a total foreign direct investment (FDI) of $6.24 billion in April, up 38 per cent year-on-year, according to data released by the Department for Promotion of Industry and Internal Trade (DPIIT) on Wednesday.
  • Total FDI comprises equity capital of unincorporated entities, re-investment earnings and other capital. FDI equity inflows rose 60 per cent to $4.44 billion in April.
  • The reforms in Foreign Direct Investment (FDI) policy, measures taken by the government on the front of investment facilitation and ease of doing business have resulted in an increase in FDI inflows into the country.
  • According to data shared by the government, Mauritius is the top investing country with 24 per cent equity inflows in April. It is followed by Singapore, which continues to be one of the top sources of FDI for India with 21 per cent inflows. Japan ranked third with 11 per cent of FDI inflows.
  • As far as the states are concerned, Karnataka is the top recipient state with a 31 per cent share in the total FDI equity inflows during April 2021, followed by Maharashtra at 19 per cent and Delhi at 15 per cent.
  • Same as the financial year 2020-21, computer software and hardware emerged as the top sector during April, accounting for about 24 per cent of the total FDI equity inflows. It was followed by 23 per cent in the service sector and 8 per cent in the education sector, respectively.
  • Despite the disruption caused by the outbreak of the pandemic last year, India attracted the highest ever FDI inflow of $81.72 billion in the entire financial year 2020-21. The total FDI inflows in 2019-20 stood at $74.39 billion.

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Tags: Current Affairs, Economics

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