FDI inflows grow 62% during first four months of FY22

New Delhi [India], September 23 (ANI): India has attracted a total Foreign Direct Investment (FDI) inflow of USD 27.37 billion during the first four months of the current financial year (FY) 2021-22 which is 62 per cent higher as compared to the corresponding period of FY 2020-21 (USD 16.92 billion), Ministry of Commerce and Industry said on Friday.

According to the ministry, FDI equity inflow grew by 112 per cent in the first four months of FY 2021-22 (USD 20.42 billion) compared to the year-ago period (USD 9.61 billion).

'Automobile Industry' has emerged as the top sector during the first four months of FY 2021-22 with a 23 per cent share of the total FDI Equity inflow followed by computer software and hardware (18 per cent) and services sector (10 per cent) respectively.

Under the sector 'Automobile Industry', the majority of FDI Equity inflow (87 per cent) was reported in the state of Karnataka during the first four months of the current FY 2021-22.

Karnataka is the top recipient state during the FY 2021-22 (up to July 2021) with a 45 per cent share of the total FDI equity inflows followed by Maharashtra (23 per cent) and Delhi (12 per cent).

The ministry said easures taken by the Central Government concerning FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country. (ANI)