India's FDI inflow in April-Dec 2020 surges 22% to $67.5 billion

India attracted total FDI inflow of $67.54 billion during April to December 2020, Centre said on Thursday.

Accordingly, it is the highest ever inflow for the first nine months of a financial year and 22 per cent higher as compared to the first ninth months of 2019-20 which stood at $55.14 billion.

Besides, FDI equity inflow grew by 40 per cent in the first 9 months of FY21 to $51.47 billion from an year ago period of $36.77 billion.

"FDI inflow increased by 37 per cent in 3rd Quarter of 2020-21 (US$ 26.16 billion) compared to 3rd quarter of 2019-20 (US$ 19.09 billion)," an official communique said.

"FDI inflow showed positive growth of 24 per cent in the month of December, 2020 (US$ 9.22 billion) compared to December, 2019 (US$ 7.46 billion)."

According to the Centre, FDI is a major driver of economic growth and an important source of non-debt finance for the economic development of India.

"It has been the endeavor of the Government to put in place an enabling and investor friendly FDI policy. The intent all this while has been to make the FDI policy more investor friendly and remove the policy bottlenecks that have been hindering the investment inflows into the country."

"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."

--IANS

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