Representative picture. The Indian economy has recorded Foreign Direct Investment (FDI) inflow of $16.3 billion in Q1 FY20 marking a 28 per cent increase over the $12.7 billion inflow in the year ago period, ET reports.
At $7.3 billion, a major part of the quarter’s FDI was generated in June followed by $5.2 billion and $3.8 billion inflows in April and May respectively. Going by sectors, telecom attracted the maximum $4.2 billion in investment while services gained $2.8 billion investment.
Top source for the FDI into the country continued to be Singapore while Mauritius came in second with inflow at $5.3 billion and $4.6 billion respectively.
The surge in investment in the first quarter of FY20 comes at the backdrop of a 1 per cent dip in FDI from $44.8 billion to $44.4 billion in FY19 from the previous year.
The government has recently brought in several reforms to the FDI regime in the face of slowing growth, having allowed 100 per cent FDI in commercial coal mining while easing sourcing rules for single-brand retail.
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