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India Saw Its FDI Inflows Zoom By 27 Per Cent From $51 Billion In 2019 To $64 Billion In 2020: UN Report
Prime Minister Narendra Modi with Finance Minister Nirmala Sitharaman.
As per the UN Conference on Trade and Development (UNCTAD)'s World Investment Report 2021, India received $64 billion in foreign direct investment (FDI) in 2020 which made it the fifth-largest recipient of inflows in the world, reports Business Standard.
India saw its FDI inflows surge by 27 per cent to $64 billion in 2020 from $51 billion in 2019.
The report has also noted that though the COVID-19 pandemic's scathing second wave in the country weighs heavily on its overall economic activities, its strong fundamentals provide optimism for the medium term.
The report added that the FDI to India has been on a long-term growth trend and its market size will continue to attract market-seeking investments. In addition, investment into the ICT industry is expected to keep growing.
It should be noted that as per the UNCTAD report, global FDI flows were severely hit by the pandemic and that they fell by 35 per cent in 2020 to $1 trillion from $1.5 trillion in 2019. The report emphasised that lockdowns caused by COVID-19 around the world slowed down existing investment projects, and prospects of a recession led multinational enterprises (MNEs) to reassess new projects.
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