New Delhi: The government on Wednesday said that investment facilitation and ease of doing business taken on account of FDI policy reforms have resulted in increased inflows during the first four month of this financial year (April to July FY 2021-22). "India has attracted total FDI inflow of $27.37 billion during first four months of FY22 which is 62% higher as compared to corresponding period of FY 2020-21 at $16.92 billion," the Ministry of Commerce & Industry stated in a notification.
The current Foreign Direct Investment status puts India as a preferred investment destination amongst global investors, it added.
FDI equity inflow grew at a faster pace during April to July 2021-22. The equity inflow increased by 112% in the first four months of FY22 to $20.42 billion compared to the year ago period ($9.61 billion), the ministry stated.
Total FDI comprises equity inflows, reinvested earnings and other capital.
It also highlighted that the automobile industry emerged as the top sector during the first four months of FY22 with 23% share of the total FDI equity inflow followed by computer software & hardware (18%) and services sector (10%) respectively.
Under the auto sector, majority of FDI Equity inflow (87%) was reported in Karnataka during the first four months of FY22.
Karnataka is the top recipient during the FY22 (up to July, 2021) with 45% share of the total FDI equity inflows followed by Maharashtra (23%) and Delhi (12%).