Manufacturing sector witnesses 76% YOY increase in FDI in FY22

New Delhi, July 28 (KNN) The foreign direct investment (FDI) equity inflows in the manufacturing sectors have increased by 76 per cent in financial year 2021-22 recording USD 21.34 billion compared to USD 12.09 billion in FY 2020-21, the Commerce Ministry said on July 28.

The Ministry in a statement said that the government has implemented several reforms under the FDI policy regime across sectors such as insurance, defence, telecom, financial services, pharmaceuticals, retail trading, and e-commerce.

The top two foreign investors in 2021-2022 are Singapore (27.0 per cent) and the U. S. (17.94 per cent).These were followed by Mauritius (15.98 per cent), Netherlands (7.86 per cent) and Switzerland (7.31 per cent).

“Despite the ongoing pandemic and global developments, India received the "highest" annual FDI inflows of USD 84.83 billion in 2021-22,”Ministry said.

Top five States receiving highest FDI in 2021-22 are Karnataka (37.55 per cent), Maharashtra (26.26 per cent), Delhi (13.93 per cent), Tamil Nadu (5.10 per cent) and Haryana (4.76 per cent).  (KNN Bureau)