FDI equity inflows decline 15% to $36.75 bn in April-December FY23

Foreign direct investment (FDI) into India declined by 15% to $36.75 billion during the April-December this fiscal, according to the latest Department for Promotion of Industry and Internal Trade data.

The FDI inflows stood at $43.17 billion during the corresponding period of the previous year.

The total FDI inflows, which includes equity inflows, re-invested earnings and other capital, declined to $55.27 billion during the nine months of the current fiscal year as against $60.4 billion in the year-ago period.

During April-December 2022-23, Singapore emerged as the top investor with $13 billion FDI.

It was followed by Mauritius ($4.7 billion), the U.S. (about $5 billion), the UAE ($3.1 billion), the Netherlands ($2.15 billion), Japan ($1.4 billion), and Cyprus ($ 1.15 billion), the data showed.

The computer software and hardware sector attracted the highest inflows of $8 billion during the nine-month period of this fiscal.

It was followed by services ($6.6 billion), trading ($4.14 billion), chemicals ($1.5 billion), automobile industry ($1.27 billion) and construction (infrastructure) activities ($1.22 billion).

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