Foreign direct investment in India spiked 47.8 per cent to USD 16.17 billion in April-June this fiscal on healthy inflows in services, computer, telecom and pharma sectors, according to government data on Tuesday (September 3). FDI inflows were at USD 10.94 billion in April-June 2023-24. The data showed that overseas inflows in May rose to USD 5.85 billion and in June to USD 5.41 billion from USD 2.67 billion and USD 3.16 billion, respectively, in the year-ago period.
In April, FDI inflows were down marginally at USD 4.91 billion against USD 5.1 billion in April 2023. Total FDI, which includes equity inflows, reinvested earnings and other capital, grew by 28 per cent to USD 22.49 billion during the first quarter of this fiscal from USD 17.56 billion in April-June 2023-24, the Department for Promotion of Industry and Internal Trade (DPIIT) data showed.
During the period, FDI equity inflows rose from major countries, including Mauritius, Singapore, the US, the Netherlands, the UAE, Cayman Islands and Cyprus. However, inflows declined from Japan, the UK, and Germany.
Sectorally, inflows rose in services, computer software and hardware, telecommunication, pharma and chemicals.
The data also showed that Maharashtra received the highest inflow of USD 8.48 billion during the first quarter of this last fiscal. It was followed by Karnataka (USD 2.28 billion), Telangana (USD 1.08 billion) and Gujarat (USD 1.02 billion).
FDI inflows declined in Delhi and Rajasthan compared to the year-ago period.
(With PTI inputs)
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