The Decision Maker Asia team reports:
According to the Commerce and Industry Ministry, Foreign Direct Investment more than doubled (62%) to $20.42 billion between April – July, while total inflow was up, reaching $27.37 billion in the first four months of 2021-2022. This figure was $16.92 billion year-on-year.
In a mid-September statement, the ministry said, "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," adding, "FDI equity inflows grew by 112 per cent in the first four months of 2021-22 ($20.42 billion) compared to the year ago period ($9.61 billion)”
The automobile industry was the main driver for the jump, contributing 23 per cent share of the total FDI equity inflows.
Computer software and hardware followed with 18 per cent and services sector with 10 per cent.
Top state was Karnataka, receiving 45 per cent share of the total FDI equity inflows, while Maharashtra with 23 per cent and Delhi with 12 per cent followed.
(Researched, written and edited by: The Decision Maker Asia team)