Foreign direct investment (FDI) into India in the July-September quarter rose a gigantic 140 per cent on year at $23.4 billion. Total FDI inflows including equity inflows reinvested earnings and other capital was $28.1 billion in the second quarter compared to $14.06 billion in the September quarter of FY20.
In July, the country had attracted $17.5 billion worth of foreign investments. Sectors that 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).
Mauritius was the top source of FDI in the quarter ended September 30 and the US jumped to the third position from fifth in the trailing quarter. The highest monthly inflows were seen this fiscal, data released by the Department for Promotion of Industry and Internal Trade (DPIIT) released on Friday showed.
The commerce and industry ministry last month said that India, in April-August 2020, received the highest ever total FDI for the first five months of a financial year stating that these trends are an endorsement of India’s status as a preferred investment destination amongst global investors. Total FDI in the first six months of FY21 was $30 billion.