3 February , 2022 Fdiindia
India Receives $54.1 billion in FDI between April 2021 and November 2021
Minister of State for Commerce and Industry Som Prakash announced in the Parliament that the total foreign direct investment (FDI) inflows during April and November 2021 reached $54.1 billion.
The minister mentioned that this was possible because of liberal and transparent FDI policy laid out by the government which has allowed foreign investments under the automatic route for most of the sectors.
In a written reply to the Lok Sabha, Prakash said that reforms have been taken to liberalize and simplify the FDI policy even further to ensure more foreign investments and ease of doing business.
The measures are mainly targeted for segments such as coal mining, contract manufacturing, civil aviation, digital media, defense, telecom, single-brand retail trading and insurance.
“During the current financial year 2021-22 (up to November 2021), FDI inflows worth $54.1 billion have been reported in the country. FDI equity inflows during April 2021 and November 2021 stood at $39.26 billion,” Mr. Prakash said.
The FDI inflow for the corresponding period in the previous fiscal was $43.85 billion.
The primary sectors that attracted maximum foreign capital inflows during the period were computer software and hardware ($9 billion), automobile ($5.84 billion), services ($4.95 billion), education ($2.8 billion), trading ($2.79 billion), infrastructure activities ($1.48 billion), metallurgical industries ($1.35 billion), and defense industries ($2.19 million).
Over the last seven financial years, India has attracted an FDI inflow of $440.27 billion, which is almost 58 percent of the total foreign direct investment that the country saw over the last 21 years that amounted to $763.83 billion.