Industr

FDI in India jumps 13% to record $ 49.98 bn in 2019-20

Sectors which attracted maximum foreign inflows during 2019-20 include construction.   | Photo Credit: Mahesh Harilal

Foreign direct investment (FDI) in India grew by 13% to a record of $ 49.97 billion in the 2019-20 financial year, according to official data.

The country had received FDI of $ 44.36 billion during April-March 2018-19.

Sectors which attracted maximum foreign inflows during 2019-20 include services ($ 7.85 billion), computer software and hardware ($ 7.67 billion), telecommunications ($ 4.44 billion), trading ($ 4.57 billion), automobile ($ 2.82 billion), construction ($ 2 billion), and chemicals ($ one billion), the the Department for Promotion of Industry and Internal Trade (DPIIT) data showed.

Singapore emerged as the largest source of FDI in India during the last fiscal with $ 14.67 billion investments.

It was followed by Mauritius ($ 8.24 billion), the Netherlands ($ 6.5 billion), the US ($ 4.22 billion), Caymen Islands ($ 3.7 billion), Japan ($ 3.22 billion), and France ($ 1.89 billion).

FDI is important as the country requires major investments to overhaul its infrastructure sector to boost growth.

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