India's FDI rises 40 pct in April-December 2020

2021-03-04 13:05:39 GMT2021-03-04 21:05:39(Beijing Time) Xinhua English

NEW DELHI, March 4 (Xinhua) -- India's foreign direct investment (FDI) grew 40 percent to 51.47 billion U.S. dollars during April-December 2020-21 financial year, according to official data released on Thursday.

"India has attracted total FDI inflow of 67.54 billion U.S. dollars during April to December 2020. It is the highest ever for the first ninth months of a financial year and 22 percent higher as compared to the first ninth months of 2019-20 (55.14 billion U.S. dollars)," the ministry of commerce and industry said in a statement.

"FDI equity inflow grew by 40 percent in the first nine months of financial year 2020-21 (51.47 billion U.S. dollars) compared to the year ago period (36.77 billion U.S. dollars)."

According to the ministry, the FDI inflow increased by 37 percent in third quarter of 2020-21 (26.16 billion U.S. dollars) compared to third quarter of 2019-20 (19.09 billion U.S. dollars).

"FDI inflow showed positive growth of 24 percent in the month of December 2020 (9.22 billion U.S. dollars) compared to December 2019 (7.46 billion U.S. dollars).

Officials said FDI is a major driver of economic growth and an important source of non-debt finance for the economic development of India.

"It has been the endeavor of the government to put in place an enabling and investor friendly FDI policy. The intent all this while has been to make the FDI policy more investor friendly and remove the policy bottlenecks that have been hindering the investment inflows into the country," the ministry said. Enditem