15% rise in foreign direct investment from April to September, makes this country the biggest source

Foreign direct investment (FDI) in India grew by 15 percent to $30 billion during the first half of the current financial year. This was revealed in official figures. According to data from the Department of Industry and Internal Trade Promotion (DPIIT), FDI stood at $26 billion during April-September 2019-20. In July this year, the country received FDI of $17.5 billion.

These areas attracted more FDI

Among the sectors that attracted more FDI during April-September 2020-21 were computer software and hardware ($17.55 billion), services ($2.25 billion), trading ($949 million), chemicals ($43.7 million) and automobiles ($41.7 million).

Singapore becomes the biggest source of FDI

During this time, Singapore emerged as the largest source of FDI in India with an investment of $8.3 billion. It was followed by the United States ($7.12 billion), the Cayman Islands ($2.1 billion), Mauritius (two billion dollars), the Netherlands ($1.5 billion), Britain ($1.35 billion), France ($1.13 billion) and Japan ($65.3 million). DPIIT said that the total FDI by adding reinvestment of income of foreign companies stood at about $40 billion.

It is known that between 2004 and 2015, India has been the fourth major country to attract new foreign direct investment (FDI) projects. During this period, India also ranked eighth in mergers and acquisitions in other countries. In this context, a research paper titled ‘Future of Regional Co-operation in Asia and Pacific’ has been released.

America is on top

According to this report available on the Asian Development Bank website, India received 8,004 new FDI projects between 2004 and 2015. The number of mergers and acquisitions also stood at 4,918. The report said that the US topped in acquiring new FDI projects during this period, while China came second and Britain came third. During this period, the US received 13,308 new FDI projects.