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New Delhi: Foreign direct investments (FDI) into the country grew 19% to $59.64 billion during 2020-21 on account of measures taken by the government on the fronts of policy reforms, investment facilitation and ease of doing business, the commerce and industry ministry said on Monday.
Total FDI, including equity, re-invested earnings and capital, rose 10% to the “highest ever” of $81.72 billion during 2020-21 as against $74.39 billion in 2019-20.
“FDI equity inflow grew by 19% in 2020-21 ($59.64 billion), compared to 2019-20 ($49.98 billion),” the ministry said in a statement.
In terms of top investor countries, Singapore is at the top with 29% share. It was followed by the US (23%) and Mauritius (9%) during the last fiscal.
“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,” it said.
It added that the inflows are an endorsement of India’s status as a preferred investment destination among global investors.
The computer software and hardware sector attracted the highest inflows with around 44% share of the total FDI equity inflows. It was followed by construction (infrastructure) activities (13%) and services sector (8%), respectively.
“Gujarat is the top recipient state during 2020-21 with 37% share of the total FDI equity inflows, followed by Maharashtra (27%) and Karnataka (13%),” it added.