NEW DELHI: India recorded a 38 per cent rise in its foreign direct investment (FDI) inflows on a year-on-year (y-o-y) basis, data released by government showed on Wednesday.
Total FDI inflows stood at $6.24 billion in April this year as compared a total of $4.53 billion during the same period last year.
“Measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country,” the ministry if commerce and industry said in an official release.
Mauritius emerged to be the top investing country with 24 per cent of the FDI Equity inflows, followed by Singapore at 21 per cent and Japan at 11 per cent, during April 2021.
Besides, FDI equity inflows recorded a jump of 60 per cent from $2.77 billion in April 2020 to $4.44 billion in April this year.
According to a report by the UN Conference on Trade and Development (UNCTAD), India was the fifth largest recipient of FDI inflows in the world in 2020.
The report said in India, FDI increased 27 per cent to $64 billion in 2020 from $51 billion in 2019, pushed up by acquisitions in the information and communication technology (ICT) industry, making the country the fifth largest FDI recipient in the world.
The pandemic boosted demand for digital infrastructure and services globally.
This led to higher values of greenfield FDI project announcements targeting the ICT industry, rising by more than 22 per cent to $81 billion, it added.
As per the latest government of India data, computer software and hardware emerged as the top sector during the month with around 24 per cent share of the total FDI equity inflows.
It was followed by services, and education sectors.
Meanwhile, Karnataka was the top recipient state during April with 31 per cent share, followed by Maharashtra and Delhi.
(With inputs from agencies)