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FDI grows 28% to $16.33 bn in Q1 FY20; Singapore largest source: Govt data

Recently, the government relaxed foreign investment norms in sectors such as single-brand retail trading, coal mining and contract manufacturing

Press Trust of India  |  New Delhi 

FDI
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Foreign direct investment into India grew by 28 per cent to $16.33 billion during the first quarter of the current fiscal, according to government data.

Inflow of foreign direct investment (FDI) during April-June of 2018-19 stood at 12.75 billion.

Sectors which attracted maximum foreign inflows during April-June 2019-20 include services ($2.8 billion), computer software and hardware ($2.24 billion), telecommunications ($4.22 billion), and trading ($1.13 billion), the commerce and industry ministry data showed.

Singapore emerged as the largest source of in India during the first quarter of the fiscal with $5.33 billion investments. It was followed by Mauritius ($4.67 billion), the US ($1.45 billion), the Netherlands ($1.35 billion), and Japan ($472 million).

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

Recently, the government relaxed foreign investment norms in sectors such as single-brand retail trading, coal mining and contract manufacturing.    

First Published: Thu, September 05 2019. 13:45 IST
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