India attracted foreign direct investment (FDI) of $27.37 billion during the April-July period of the ongoing financial year, which is 62 per cent higher than in the corresponding period of previous year.
The FDI equity inflow in the country grew 112 per cent to $20.42 billion during the period against $9.61 billion in April-July 2020, the Ministry of Commerce & Industry said on Wednesday.
"'Automobile Industry' has emerged as the top sector during the first four months of FY 2021-22 with 23 per cent share of the total FDI equity inflow followed by computer software and hardware (18 per cent) and services sector (10 per cent)..." a statement said.
In the automobile industry sector, Karnataka attracted the highest FDI equity inflow of 87 per cent during the first four months of the financial year.
Overall, Karnataka topped the chart, receiving 45 per cent share of the total FDI equity inflow, followed by Maharashtra (23 per cent) and Delhi (12 per cent).
The ministry attributed the reforms by the government in FDI policy, investment facilitation and improving ease of doing business as the reason for the increase in FDI inflow. The trends in India's FDI are an "endorsement of its status as a preferred investment destination amongst global investors", it said.
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