NEW DELHI: Just after two years of double-digit rise, international immediate expense (FDI) grew 2% through the last economic yr to a new superior of $83. 6 billion. The latest quantities confirmed that Singapore had overtaken Mauritius to arise as the major source of FDI into the county, with the US at the second location and Mauritius, which topped the rankings final yr, slipping to the third place, an formal assertion mentioned. With all around 27% of FDI into India, inflows from Singapore are believed at about $22. 5 billion, in contrast to the US’s $15 billion and about $13 billion from Mauritius, an all-time favorite for world wide buyers presented the tax benefit that it liked for decades.
Among the sectors, producing noticed a 76% bounce with inflows all through 2021-22 estimated at $21. 3 billion,‘Computer application and hardware’ was the most beautiful sector cornering all around a quarter of the pie, adopted by products and services and cars (12% just about every).
The Modi government sought to assert credit score for the rise. “The steps taken through the very last eight a long time have borne fruit as is obvious from the ever-rising volumes of FDI inflow staying gained into the country, location new information,” the commerce and market ministry stated.
