FDI inflows double in July-Sept quarter to $28.1 billion

The total Foreign Direct Investment (FDI) inflow into India doubled to $28.1 billion in the July-September quarter this fiscal, from $14.06 billion in the same period last year.

“Indicating global investors’ preference for India’s enabling environment under PM Narendra Modiji, FDI increased from $14.06 billion to $28.1 billion in the July-September quarter,” tweeted Minister of Commerce & Industry Piyush Goyal on Saturday. The Minister added that despite Covid-19 pandemic, the FDI had doubled.

In the April-June quarter of 2020-21, the total FDI inflow stood at $11.51 billion.

Of the total FDI in the second quarter (July-September 2020-21), the total FDI equity inflows were to the tune of $23.44 billion, as per the quarterly fact sheet put up by the Department for Promotion of Industry and Internal Trade. The other components of total FDI inflow are reinvested earnings and other capital.

In the first six months of the fiscal (April-September 2020-21), the total FDI equity inflow was at $30 billion, which was 15 per cent higher than the corresponding period of the previous fiscal, according to latest figures released by the government.

The FDI equity inflow in September 2020 moderated to $2.9 billion after surging to $17.48 billion in August 2020, the data revealed.

Singapore was the top destination for FDI equity inflow in the April-September quarter, with $8.3 billion investments, while the US ($7.12 billion) is in the second position. The other top investors included Cayman Islands ($2.1 billion), Mauritius ($2 billion), the Netherlands ($1.49 billion), UK ($1.35 billion), France ($1.13 billion) and Japan ($653 million).

Top sectors attracting FDI in the first half of the fiscal included computer software and hardware ($17.55 billion), services ($2.25 billion), trading ($949 million), chemicals ($437 million), automobile ($417 million), construction activities ($377 million) and drugs and pharma ($367 million).