India's inflow of foreign direct investment (FDI) struck an all-time high of over Rs 6 lakh crore in fiscal year 2021-22, the Ministry of Commerce and Industry said on July 29.
India has received its highest ever FDI inflow of Rs 6,31,050 crores in financial year 2021-22," an official release noted.
Further, FDI equity inflow in manufacturing sectors has increased to Rs 1,58,332 crore in FY22 from Rs 89,766 crore in FY21, marking an increase of 76 percent.
In 2020-21, the inflow stood at USD 81.97 billion, it added.
“India is rapidly emerging as a preferred country for foreign investments in the manufacturing sector,” the ministry said.
“India has recorded highest ever annual FDI inflow of USD 83.57 billion in the Financial Year 2021-22,” it noted.
FDI equity inflow in manufacturing sectors has increased by 76 per cent in 2021-22 (USD 21.34 billion) compared to 2020-21 (USD 12.09 billion).
In terms of top investor countries, Singapore is at the top with 27 per cent followed by the US (18 per cent) and Mauritius (16 per cent) during the last fiscal.
Among sectors, computer software and hardware attracted maximum inflows. It was followed by the services sector and automobile industry, the ministry said.
To further liberalise and simplify FDI policy for providing ease of doing business and attract investments, reforms have been undertaken recently across sectors, such as coal mining, contract manufacturing, digital media, single-brand retail trading, civil aviation, defence, insurance and telecom.