Startups in India. (Hemant Mishra/Mint via Getty Images)The Department for Promotion of Industry and Internal Trade (DPIIT), in its annual report, has revealed that India attracted its highest ever FDI inflow of $64.37 billion in the financial year 2018-19, reports PTI.
The previous highest FDI inflow in a single year was recorded back in 2016-17 when India had attracted $60.98 billion, post which the inflows had fallen to $55.55 billion in the 2017-18 period.
The report also says that the a total of $286 billion worth of FDI inflow had been recorded over the past five years. The annual document further stressed that the FDI inflows bring in resources, best practices and latest technology which assist in pushing growth on a higher notch.
The DPIIT which functions under the administrative control of Ministry of Commerce and Industry further added that path-breaking reforms taken in the last few years have resulted in India attracting record FDI inflow, up from 2014-15 when India had attracted $45.14 billion.
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