In the computer sector, FDI tripled during the year 2020-21 to $26.14 trillion.

Foreign Direct Investment (FDI) in the computer software and hardware sector tripled to $26.14 billion during the year 2020-21, with significant growth in the use of technology in the country.

According to the data released by the Department of Industry and Internal Trade Promotion (DPIIT), the software and hardware sector received $7.67 billion in the year 2019-20 and $6.41 billion in the year 2018-19.

DPIIT stated that India received a total FDI of $59.63 billion during the year 2020-21, 43 percent of which was received in the computer software and hardware sector.

Rajat Wahi, Partner, Deloitte India said, “With the increasing digitization of businesses in the country, the technology sector is witnessing a steady growth. This speed has increased especially during the lockdown and is expected to increase rapidly for the next two-three years.

“India’s ability in technology has attracted foreign investors, leading to large-scale FDI in hardware and software,” he said.