FDI into India declines 15% to $36.75 billion during April-December period of FY23
The Department for Promotion of Industry and Internal Trade in its latest data has showed that foreign direct investment (FDI) into India declined by 15 per cent to $36.75 billion during the April-December period of this fiscal year 2022-23 (FY23), as compared to the FDI inflows of $43.17 billion during the corresponding period of the previous year. The total FDI inflows, which includes equity inflows, re-invested earnings and other capital, declined to $55.27 billion during the nine months of the current fiscal year as against $60.4 billion in the year-ago period.
The data showed that during April-December 2022-23, Singapore emerged as the top investor with $13 billion FDI. It was followed by Mauritius ($4.7 billion), the US (about $5 billion), the UAE ($3.1 billion), the Netherlands ($2.15 billion), Japan ($1.4 billion), and Cyprus ($1.15 billion).
The computer software and hardware sector attracted the highest inflows of $8 billion during the nine-month period of this fiscal. It was followed by services ($6.6 billion), trading ($4.14 billion), chemicals ($1.5 billion), automobile industry ($1.27 billion) and construction (infrastructure) activities ($1.22 billion).
