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Apr-Sep FDI inflow at $30B; Mauritius, Singapore top sources
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SME Times News Bureau | 28 Nov, 2020
With India being an attractive
destination for foreign funds despite the pandemic, FDI inflow rose 15
per cent during the April-September period to $30 billion.
During the same period last fiscal, total FDI inflow stood at $26 billion.
According
to data from the Department for Promotion of Industry and Internal
Trade (DPIIT), Mauritius and Singapore were the biggest sources of FDI
for India with 29 per cent and 21 per cent contribution respectively.
The US, Netherlands and Japan followed with 7 per cent contribution each.
Among
the sectors, services sector continued to lead with the highest amount
of FDI coming in. The sector which includes financial, banking,
insurance, outsourcing, R&D among others, received 17 per cent of
the FDI equity inflow during the period under review.
Computer software and hardware segment got 12 per cent FDI inflow while the telecom sector received 7 per cent
Among
the states, Gujarat attracted the highest FDI equity inflow with 35 per
cent of the overall funds coming in during April-September, followed
by Maharashtra (20 per cent), Karnataka (15 per cent) and Delhi (12 per
cent).
Inflow of foreign investments has been on the rise after
the governments around the world along with India announced liquidity
measures in the wake of the pandemic.
The Centre has also
announced liberalising measures for FDI in several sectors including
contract manufacturing, coal mining and defence which are likely to
fetch in more investments.
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