IGI Logo

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).