Foreign direct funding (FDI) in India grew 40% to $51.47 billion throughout April-December 2020-21, in accordance to authorities knowledge launched on Thursday.
India has attracted 22% larger FDI influx (together with re-invested earnings) of $67.54 billion in the course of the first 9 months of the present fiscal as towards $55.14 billion in the identical interval of 2019-20.
“FDI equity inflow grew by 40% in the first nine months of 2020-21 ($51.47 billion) compared to the year ago period ($36.77 billion),” the commerce and business ministry mentioned.
The inflows elevated by 37% per cent in the third quarter (October-December 2020) of 2020-21 to $26.16 billion.
In December, FDI surged 24% to $9.22 billion, the information confirmed.
The measures taken by the federal government on the fronts of FDI coverage reforms, funding facilitation and ease of doing enterprise have resulted in elevated FDI inflows into the nation, in accordance to the ministry.
The international inflows are a significant driver of financial progress and an necessary supply of non-debt finance for the financial improvement of India.
“The steps taken in this direction during the last six and a half years have borne fruit, as is evident from the ever-increasing volumes of FDI inflows being received into the country. Continuing on the path of FDI liberalisation and simplification, government has carried out FDI reforms across various sectors,” the ministry mentioned.