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FDI inflow rises 13% in April-August
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SME Times News Bureau | 21 Oct, 2020
FDI inflows into India have increased by 13 per cent during April to
August 2020 on a year-on-year basis, official data showed on Tuesday.
According to the Ministry of Commerce and Industry, $35.73 billion has been received during the period under review.
"It
is the highest ever for first 5 months of a financial year and 13 per
cent higher as compared to first five months of 2019-20 ($31.60
billion)," the ministry said in a statement.
"FDI equity inflow
received during F.Y. 2020-21 (April to August, 2020) is $27.10 billion.
It is also the highest ever for first 5 months of a financial year and
16 per cent more compared to first five months of 2019-20 ($23.35
billion)."
Besides, the ministry's data showed that FDI inflows have risen by 55 per cent during the last 6 years.
"Total FDI inflow grew by 55 per cent, i.e. from $231.37 billion in 2008-14 to $358.29 billion in 2014-20," the statement said.
"FDI equity inflow also increased by 57 per cent from $160.46 billion during 2008-14 to $252.42 billion (2014-20)."
The
ministry said that measures taken regarding FDI policy reforms,
investment facilitation and ease of doing business have resulted in
increased inflows into the country.
"Continuing on the path of
FDI liberalisation and simplification, Government has carried out FDI
reforms across various sectors," the statement said.
FDI is a
major driver of economic growth and an important source of non-debt
finance for the economic development of India, it added.
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