FDI In India Jumps 13% To Record $49.98 Billion In 2019-20, Singapore Emerges As The Largest Source of FDI Inflow

Foreign direct investment (FDI) in India grew by 13 per cent to a record of USD 49.97 billion in the 2019-20 financial year, PTI reported quoting official data.

India received FDI of USD 44.36 billion during the previous financial year (April-March) of 2018-19.

Sectors which attracted maximum foreign inflows during 2019-20 include services (USD 7.85 billion), computer software and hardware (USD 7.67 billion), telecommunications (USD 4.44 billion), trading (USD 4.57 billion), automobile (USD 2.82 billion), construction (USD 2 billion), and chemicals (USD one billion), the the Department for Promotion of Industry and Internal Trade (DPIIT) data showed.

Singapore emerged as the largest source of FDI in India during the last fiscal with USD 14.67 billion investments.

FDI is important as the country requires major investments to overhaul its infrastructure sector to boost growth.