FDI inflow dips 1.4 pc to USD 10.67 bn in Oct-Dec

Foreign direct investment into India dipped marginally by 1.4 per cent to USD 10.67 billion (about Rs 76,800 crore) during October-December period of 2019-20, according to government data.

Inflow of foreign direct investment (FDI) during October-December of 2018-19 stood at USD 10.82 billion.

FDI inflows in July-September period of the current financial year stood at USD 9.77 billion.

During April-December period 2019-20, foreign investments into the country grew 10 per cent to USD 36.76 billion as against USD 33.49 billion in the same period of 2018-19, according to the data.

Sectors which attracted maximum foreign inflows during the nine month period include services (USD 6.52 billion), computer software and hardware (USD 6.35 billion), telecommunications (USD 4.29 billion), automobile (USD 2.50 billion) and trading (USD 3.52 billion).

Singapore continued to be the largest source of FDI in India during April-December period of the current financial year with USD 11.65 billion investments. It was followed by Mauritius (USD 7.45 billion), the Netherlands (USD 3.53 billion), Japan (USD 2.80 billion) and the US (USD 2.79 billion).

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

The government had last year relaxed foreign investment norms in sectors such as brand retail trading, coal mining and contract manufacturing.