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FDI In Computer Software And Hardware, Pharma And Infrastructure Sectors Rose Multi-Fold In 2020-21: DPIIT Data
Prime Minister Narendra Modi with Finance Minister Nirmala Sitharaman.
The financial year 2020-21 saw foreign direct investment (FDI) in India’s computer software and hardware space jump threefold to a whopping $26.14 billion, reports Economic Times.
The data from the Department for Promotion of Industry and Internal Trade (DPIIT) shows that the FDI in the space stood at $6.41 billion and $7.67 billion in 2018-19 and 2019-20, respectively.
Also, it should be noted that the computer software and hardware sector alone accounted for 43 per cent of the total $59.63 billion FDIs that India garnered in 2020-21.
Other than this, FDI into construction (infrastructure) activities also saw a significant multi-fold jump from $2 billion in 2019-20 to $7.87 billion in 2020-21. FDI in the pharmaceutical sector also more than doubled from $518 million in 2019-20 to $1.49 billion.
Meanwhile, FDI in services and trading sectors dripped to $5 billion and $2.6 billion from $7.85 billion and $4.57 billion respectively in 2019-20. FDI in telecommunications, construction development, automobile, chemicals, hotel and tourism also recorded a dip in 2020-21.
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