Manufacturing sector in India garners FDI worth $21 bn in FY22

29 Jul '22

1 min read

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India’s manufacturing sector garnered foreign direct investment (FDI) worth $21.34 billion in fiscal 2021-22—a rise of 76 per cent year on year (YoY), according to the commerce ministry, which recently said Singapore (27.01 per cent) and the United States (17.94 per cent) were the top two investors in the fiscal, followed by Mauritius (15.98 per cent), the Netherlands (7.86 per cent) and Switzerland (7.31 per cent).

India received the ‘highest’ annual FDI inflows of $84.83 billion in the fiscal, the ministry said.

The government has implemented several reforms under the FDI policy regime across sectors such as insurance, defense, telecom, financial services, pharmaceuticals, retail trading and e-commerce, a news agency reported citing the ministry.

''FDI equity inflows in the manufacturing sectors have increased by 76 per cent in FY 2021-22 ($21.34 billion) compared to previous FY 2020-21 ($12.09 billion),'' it added.

The top five states receiving the highest FDI in that fiscal 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).

Fibre2Fashion News Desk (DS)

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