FDI equity inflows into India down by 60 per cent in Q1FY21: DPIIT

Department for Promotion of Industry and Internal Trade (DPIIT) in its latest data has stated that the foreign direct investment (FDI) equity inflows into India contracted by 60 per cent to USD 6.56 billion (Rs 49,820 crore) in the first quarter of the current financial year (Q1FY21). The overseas inflows during April-June 2019 stood at USD 16.33 billion.

The data showed that the sectors, which attracted foreign inflows during the first quarter of 2020-21 included services (USD 1.14 billion), computer software & hardware (USD 1.06 billion), telecommunications (USD 2 million), automobile (USD 326 million), and trading (USD 426 million).

Singapore emerged as the largest source of FDI in India during the first quarter of the fiscal with USD 1.82 billion investments. It was followed by the Netherlands (USD 1.08 billion), Mauritius (USD 900 million), the US (USD 640 million), and Japan (USD 412 million).

During the period, the states which attracted FDI included Maharashtra, Karnataka, Delhi, Gujarat, and Jharkhand. The total FDI inflows that include reinvested earnings stood at USD 11.51 billion during the first quarter of this fiscal year.