Foreign direct investment (FDI) into India grew by 15 per cent to $ 30 billion during the first half of the current fiscal, according to official data. Inflow of FDI during April-September 2019-20 stood at $ 26 billion, as per the data of the Department for Promotion of Industry and Internal Trade (DPIIT).
In July, the country had attracted $ 17.5 billion worth of foreign investments. Sectors which attracted maximum foreign inflows during April-September 2020-21 included computer software and hardware ($ 17.55 billion), services ($ 2.25 billion), trading ($ 949 billion), chemicals ($ 437 million) and automobile ($ 417 million).
Singapore emerged as the largest source of FDI in India during the period with $ 8.3 billion investments. It was followed by the US ($ 7.12 billion), Cayman Islands ($ 2.1 billion), Mauritius ($ 2 billion), the Netherlands ($ 1.5 billion), UK ($ 1.35 billion), France ($ 1.13 billion) and Japan ($ 653 million).
Further, according to DPIIT, total FDI (including reinvested earnings) stood at about $ 40 billion. FDI is a major driver of economic growth and an important source of non-debt finance for the economic development of the country. The government has carried out FDI reforms in various sectors, including contract manufacturing and coal mining.
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