The government on Saturday said that foreign direct investment (FDI) into the country dramatically increased to $17.57 billion during April-June this financial from $6.56 billion in the year prior period.
Complete FDI inflow rose to $22.53 billion during the principal quarter of FY22 as against $11.84 billion in a similar period last year, the trade and industry ministry said in a proclamation. Absolute FDI includes equity inflows, reinvested profit, and other capital.
“FDI equity inflow grew by 168% in the first three months of 2021-22 ($17.57 billion) compared to the year-ago period ($6.56 billion),” it said.
According to the assertion, the most noteworthy FDI was collected by the automobile industry with a 27% portion of the absolute FDI equity inflows, trailed by PC programming and equipment at 17% and administrations at 11%.
“Measures taken by the government on the fronts of FDI policy reforms, investment facilitation, and ease of doing business have resulted in increased FDI inflows into the country,” the ministry said.
Among states, Karnataka was the top beneficiary with a 48% portion of the all-out FDI equity inflows, trailed by Maharashtra 23% and Delhi at 11% in the quarter.
The FDI patterns are in support India’s status as a favored investment objective among worldwide investors, the ministry said.