India witnesses highest growth in FDI in 2020 due to digital investments

FDI flows into India rose 13% in 2020, the highest among top recipients of FDI in 2019, due to investments in the digital sector. It was followed by China which saw 4% growth, said the UN Conference on Trade and Development.

On the other hand, fund flows "declined most strongly" in major economies such as the UK, the US and Russia due to the pandemic. Global FDI collapsed in 2020 by 42% to an estimated $859 bn from $1.5 trn in 2019. Such a low level was last seen in the 1990s and is more than 30% below the investment trough that followed the 2008-2009 global financial crisis. “India means business...," tweeted Commerce and Industry Minister Piyush Goyal.