FDI in India jumps 13% to record $49.98 billion in 2019-20

Foreign direct investment (FDI) in India rose by 13 per cent - the sharpest pace in the last four fiscals - to a record of $49.97 billion in 2019-20, according to official data.

The country had received FDI of $44.36 billion during April-March 2018-19.

 Foreign investments in the last fiscal grew at the sharpest pace since 2015-16 when the inflows had jumped by 35 per cent. Also, the country logged its all-time high FDI in a fiscal year since 2000-01 when the first such data was released.

 Sectors which attracted maximum foreign inflows during 2019-20 include services ($7.85 billion), computer software and hardware ($7.67 billion), telecommunications ($4.44 billion), trading ($4.57 billion), automobile ($2.82 billion), construction ($2 billion), and chemicals ($one billion), the Department for Promotion of Industry and Internal Trade (DPIIT) data showed.

Singapore with FDI inflows of $14,67 billion emerged as the largest source of foreign fund flows in India for the second financial year in a row. However, it is down from $16.22 billion in 2018-19.

 FDI is important as the country requires huge investments to overhaul its infrastructure sector to boost growth.

The overseas inflows during the January-March 2020 quarter also increased to $13.2 billion from $10.67 billion in the previous quarter (October-December 2019).

Total FDI into India including re-invested earnings and other capital in 2019-20 stood at $73.45 billion as against $62 billion in the previous fiscal.

In India, 271 million people were lifted out of poverty from 2005-06 to 2015-16, UNDP India Resident Representative Shoko Noda said, while releasing the report, “Beyond income, beyond averages, beyond today: inequalities in human development in the 21st century”.

South Asia was the fastest-growing region, witnessing 46 per cent growth during 1990-2018, followed by East Asia and the Pacific at 43 per cent.

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