In a positive development, Indian economy witnessed the total foreign direct investment (FDI) inflows double to $28.1 billion in the July-September quarter from $14.06 billion in the same period last year, Hindu Businessline.
Of the total FDI figure, $23.44 billion were channelled into equity format, while the rest of the FDI inflows were in the form of reinvested earnings and other capital. It should also be noted that in the larger April-September horizon, total FDI inflows in equity format stood at $30 billion which was 15 per cent higher than the corresponding period last fiscal.
The FDI inflows in the July-September quarter were also significantly higher than the previous April-June quarter in which the total FDI inflows stood at $11.51 billion.
The top investors during the April-September period included Singapore ($8.3 billion), the United States ($7.12 billion), Cayman Islands ($2.1 billion), Mauritius ($2 billion), the Netherlands ($1.49 billion), UK ($1.35 billion), France ($1.13 billion) and Japan ($653 million).
Also, the top sectors attracting FDI in the entire first half of the fiscal included computer software and hardware ($17.55 billion), services ($2.25 billion), trading ($949 million), chemicals ($437 million), automobile ($417 million), construction activities ($377 million) and drugs and pharma ($367 million).
The development gains much significance as the achievement manifested at a time when the nation, as well as the world, was battling the scathing COVID-19 pandemic which has led to massive economic losses all across.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.