Economy

FDI up 28 per cent in April-June 2019

Our Bureau New Delhi | Updated on September 26, 2019 Published on September 05, 2019

Telecom, services top sectors; Singapore, Mauritius largest source

Telecommunications, services and computer software were the top areas attracting foreign direct investment (FDI) in India during the first quarter of the on-going fiscal. The total inflows into all sectors increased by 28 per cent to $ 16.33 billion, according to government figures.

In last fiscal, the FDI inflow during the first quarter was $12.75 billion in the comparable period.

Singapore was the largest source of FDI in India in the April-June 2019-20 period with $ 5.33 billion investments followed by FDI from Mauritius worth $ 4.67 billion, the US worth $ 1.45 billion, the Netherlands worth $ 1.35 billion and Japan worth $ 472 million.

While telecommunications emerged as the top sector in April-June 2019-20, attracting FDI worth $4.22 billion, services sector (which includes financial, banking, insurance, non-financial / business, outsourcing, R&D, courier and technology testing and analysis) was in the second position with FDIs worth $ 2.8 billion. This was followed by computer software and hardware with $ 2.24 billion and trading with $ 1.13 billion, as per the data released by the Commerce and Industry Ministry.

Delhi and parts of Haryana as well as Uttar Pradesh (UP), attracted the maximum FDI in the first quarter of 2019-20 at $ 5.04 billion. It was followed by Karnataka with FDI worth $ 3.01 billion, Ahmedabad with FDI worth $ 2.6 billion and Maharashtra with FDI worth $ 1.56 billion.

In 2018-19, India attracted FDIs worth $44.36 billion which was marginally lower than FDIs attracted in 2017-18, which were worth $44.85 billion.

Last month, the Central Government had announced certain relaxations in the FDI policy in sectors such as single-brand retail, contract manufacturing and coal mining, in the hope of making the regime more attractive and increasing investment flows.

Published on September 05, 2019
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