FDI in India rises up by 18 per cent to reach USD 73 billion in 2019-20

As per the data released by the Department for Promotion of Industry and Internal Trade (DPIIT), this jump in the investment has been the highest in four years.

Created On: May 29, 2020 12:30 IST
FDI increases in India
FDI increases in India

Union Commerce and Industry Minister, Piyush Goyal on May 28 stated that the total Foreign Direct Investment (FDI) in India has grown by 18% to reach 73 billion in FY 2019-20. He further asserted that this long- term investment will help in job creation.

As per the data released by the Department for Promotion of Industry and Internal Trade (DPIIT), this jump in the investment has been the highest in four years. The Union minister further added that the total FDI has doubled up from 2013-14 when it was only USD 36 billion.

Piyush Goyal attributed the investment inflow as a strong vote of confidence in Make in India Programme launched by Narendra Modi’s Government.

The Union Minister shared the news of increased investment in India on his official twitter account mentioning that this will spur the job creation in India.

Sectors with most foreign Inflows:

Sectors in India that attracted the highest foreign inflows during the Financial Year 2019-20 included:

Services ($7.85 billion)

Telecommunications ($4.44 billion)

Computer Software and Hardware ($7.67 billion)

Trading ($4.57 billion)

Automobiles ($2.82 billion)

Apart from this, the investment in construction, services, and chemicals has been lower than the previous financial year.

Singapore as the largest FDI source:

Singapore has once again emerged as the largest equity FDI source by contributing to inflows of $14.67. However, the mentioned inflow is a drop from $16.22 billion that Singapore contributed in the financial year of 2018-2019.

In April-March 2018-19, total FDI inflows that included the investment through the reinvested earnings, equity, and other capital stood at $62 billion.

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS

Related Stories

Comment (0)

Post Comment

7 + 2 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.

    Monthly Current Affairs PDF

    • Current Affairs PDF November 2021
    • Current Affairs PDF October 2021
    • Current Affairs PDF September 2021
    • Current Affairs PDF August 2021
    • Current Affairs PDF July 2021
    • Current Affairs PDF June 2021
    View all

    Monthly Current Affairs Quiz PDF

    • Current Affairs Quiz PDF November 2021
    • Current Affairs Quiz PDF October 2021
    • Current Affairs Quiz PDF September 2021
    • Current Affairs Quiz PDF August 2021
    • Current Affairs Quiz PDF July 2021
    • Current Affairs Quiz PDF June 2021
    View all