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India attracts 38% higher FDI in April at $6.24 bn
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SME Times News Bureau | 23 Jun, 2021
In a sign that investors remain confident about the prospects of the
Indian economy despite the Covid-19 pandemic, the country attracted FDI
inflows of $6.24 billion in April, a 38 per cent growth over the inflows
received in the corresponding month of the previous year.
In April last year, total FDI inflows stood at $ 4.53 billion.
Though
lower base of last year has helped push up FDI growth this year, in
overall terms, the numbers reflect return to the pre-pandemic levels of
overseas investment in India.
According to government data, in
April this year, FDI equity inflows amounting to $4.44 billion were
reported in the country, which is also an increase of 60 per cent over
the FDI equity inflows of April 2020 ($2.77 billion).
Equity inflows bring in the necessary capital to boost industrialisation.
Mauritius
has regained the top spot among the countries investing in India,
accounting for 24 per cent of FDI equity inflows, followed by Singapore
(21 per cent) and Japan (11 per cent).
Computer software and
hardware emerged as the top sector in April with around 24 per cent
share of the total FDI equity inflows, followed by the services sector
(23 per cent) and the education sector (8 per cent).
Karnataka
emerged as the top recipient state in April with 31 per cent share of
the total FDI equity inflows, followed by Maharashtra (19 per cent) and
Delhi (15 per cent).
An official statement said that the measures
taken by the government on Foreign Direct Investment (FDI) policy
reforms, investment facilitation and ease of doing business have
resulted in increased FDI inflows into the country.
The FDI
trends are an endorsement of its status as a preferred investment
destination among the global investors, the statement said.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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