In a positive development, as per the data shared by the United Nations Conference on Trade and Development (UNCTAD) on Sunday, while global foreign direct investment (FDI) in 2020 collapsed by 42 per cent, India witnessed the inflows surge by 13 per cent, reports Livemint.
While FDI inflows declined most strongly in nations like the United States (US), the United Kingdom (UK) and Russia, it was only India and China emerged as the only nations to show remarkably high growth in inflows.
India FDI inflows were strengthened by investments in the digital sector, particularly via acquisition route. Also, in total, the cross border merge and acquisition grew 83 per cent to $27 billion in India in 2020. This includes 10 per cent acquisition of Jio platform by Jaadhu owned by Facebook valued at $5.7 billion.
Meanwhile, though second in terms of growth, China emerged as the world's largest recipient in terms of the quantum of FDI in 2020, garnering a total of $163 billion inflows. As per a Wall Street Journal report, China also overtook the US as the world’s leading destination for foreign direct investment as the latter saw the inflows nearly halve in 2020.
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.