India has attracted its highest ever total inflow of foreign direct investments (FDI) at $81.72bn during fiscal year (FY) 2020/21.
The figures are 10% higher as compared to FY 2019/20 when India reported $74.39bn, according to a press statement by the Embassy of India in Cairo.
It mentioned that the FDI equity inflow grew by 19% in FY 2020/21, coming in at $59.64bn, compared to FY 2019/20, when it reported $49.98bn.
In terms of top investor countries for FY 2020/21, Singapore was at the forefront with 29%, followed by the US with 23%, and Mauritius with 9%.
Computer Software and Hardware has emerged as the top sector during FY 2020/21, with around a 44% share of the total FDI equity inflow, followed by construction (infrastructure) activities at 13%, and the services sector at 8%, respectively.
Under the Computer Software and Hardware sector, the major recipient states were: Gujarat (78%); Karnataka (9%); and Delhi (5%) in FY 2020/21.
Gujarat was the top recipient state of total FDI Equity inflows during FY 2020/21 with a 37% share, followed by Maharashtra (27%), and Karnataka (13%).
Meanwhile, the majority of the equity inflow in Gujarat during FY 2020/21 was reported in the Computer Software and Hardware sector, with 94%, and the Construction (Infrastructure) Activities sector at 2%.
The major sectors, namely Construction (Infrastructure) Activities, Computer Software and Hardware, Rubber Goods, Retail Trading, Drugs and Pharmaceuticals, and Electrical Equipment have recorded a jump in equity of over 100% during FY 2020/21 as compared to the previous year.
Out of the top 10 countries, Saudi Arabia was the top investor in terms of percentage increase during FY 2020/21. It invested $2816.08m, in comparison to $89.93m reported in the previous fiscal year.
There was a 227% and 44% increase, respectively, recorded in FDI equity inflow from the US and the UK, respectively, during FY 2020/21 compared to FY 2019/20.