India Business News: The US replaced Mauritius as the second largest source of foreign direct investment into India during 2020-21 with inflows of $13.82 billion, accordin
FDI equity inflow increased 19 per cent during FY21 to $59.64 billion, as against $49.98 billion in FY20. Singapore was the biggest investor in India last fiscal, accounting for 29 per cent FDI
Updated Mar 04, 2021 | 16:56 IST
The Ministry of Commerce & Industry said during April to December 2020, India attracted total foreign equity investment inflows of $67.54 billion At $67.5 billion, India got 22% higher FDI in April-Dec 2020 | Photo Credit: PTI
India got Foreign Direct Investment (FDI) inflows of $67.5 billion during the first nine months of the pandemic-besotted financial year 2020-21.
The Ministry of Commerce & Industry said during April to December 2020, India attracted total foreign equity investment inflows of $67.54 billion. This is the highest ever for the first ninth months of a year and 22% higher as compared to $55.14 billion in the first ninth months of 2019-20.
Besides, FDI equity inflow grew by 40% in the first 9 months of FY 2020-21 to $51.47 billion compared to the year-ago period of $ 36.77 billion. These inflows improved by 37% in the third quarter of 2020-21 to $ 26.16 billion as compared to $19.09 billio
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With power transmission projects being of a strategic nature, in April, India had tightened clearances amid growing concern that power infrastructure could be targeted by forces looking to cripple its economy. The changes in the foreign direct investment (FDI) policy by mandating government clearance for all FDI inflows from neighboring countries, in order to target Chinese investment in India.
Yesterday, during India’s trade policy review at the World Trade Organization, China expressed ‘deep concern’ over the recent FDI policy changes, as it felt that the changes made in the policy by the government curbed takeovers and acquisitions of Indian companies. The US stated that since India’s last policy review in 2015, simple average tariff increased from 13.5% to 17.6%.