FDI flows hit a record $72.12 billion in 10 months
The HinduForeign Direct Investment flows into India, including reinvested earnings, hit a record $72.12 billion between April 2020 and January 2021, though fresh foreign equity investments in January 2021 fell sharply to $2.71 billion from $7.62 billion in December 2020. Japan accounted for 29% of the total FDI equity flows in January, followed by Singapore and the U.S., with consultancy services getting the largest chunk of investments in the month, followed by computer software and hardware and services sector. “The trends show that the FDI equity inflow grew by 28% in the first 10 months of financial year 2020-21 to U.S.$ 54.18 billion compared to the year ago period when it was U.S.$ 42.34 billion,” the Commerce and Industry Ministry said in a statement on Monday, terming the trends ‘an endorsement of its status as a preferred investment destination’ for global investors. Construction activities garnered 13.37% of the equity FDI inflows, followed by the services sector with 7.8% of foreign equity investments.