India attracts FDI inflow of $67.54 billion

NEW DELHI: India has atracted total foreign direct investment (FDI) inflow of $67.54 billion during April to December 2020, Centre said on Thursday.

Accordingly, it is the highest ever inflow for the first ninth months of a financial year and 22 per cent higher as compared to the first ninth months of 2019-20 which stood at $55.14 billion.

Besides, FDI equity inflow grew by 40 per cent in the first 9 months of FY21 to $51.47 billion from an year ago period of $36.77 billion.

“FDI inflow increased by 37 per cent in 3rd Quarter of 2020-21 ($26.16 billion) compared to 3rd quarter of 2019-20 ($19.09 billion),” an official communique said.

“FDI inflow showed positive growth of 24 per cent in the month of December, 2020 (US$ 9.22 billion) compared to December, 2019 ( US$ 7.46 billion).”

According to the Centre, 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 botlenecks that have been hindering the investment inflows into the country.”

Meanwhile, the key Indian equity indices traded deep in the red on Thursday with the BSE Sensex falling nearly 600 points. It closed at 50,846.08, lower by 598.57 points from its previous close.