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Commerce Ministry said the government has implemented several reforms under the FDI policy regime across sectors such as insurance, defence, telecom, financial services, pharmaceuticals, retail trading, and e-commerce.
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| Photo Credit: Reuters
Commerce Ministry said the government has implemented several reforms under the FDI policy regime across sectors such as insurance, defence, telecom, financial services, pharmaceuticals, retail trading, and e-commerce.
The manufacturing sector attracted Foreign Direct Investments (FDI) worth $21.34 billion in 2021-22, an increase of 76% year-over-year, the Commerce Ministry said on July 28.
It said the government has implemented several reforms under the FDI policy regime across sectors such as insurance, defence, telecom, financial services, pharmaceuticals, retail trading, and e-commerce. Singapore (27.0%) and the U. S. (17.94%) have emerged as the top two investors during 2021-22 in India.
These were followed by Mauritius (15.98%), the Netherlands (7.86%) and Switzerland (7.31%). “FDI equity inflows in the manufacturing sectors have increased by 76% in FY 2021-22 ($21.34 billion) compared to previous FY 2020-21 ($12.09 billion),” it added.
The Ministry said that despite the ongoing pandemic and global developments, India received the “highest” annual FDI inflows of $84.83 billion in 2021-22.
Top five States receiving highest FDI in 2021-22 are Karnataka (37.55%), Maharashtra (26.26%), Delhi (13.93%), Tamil Nadu (5.10%) and Haryana (4.76%).
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