The United States has replaced Mauritius as the second largest source of foreign direct investment (FDI) into India during fiscal 2020-21 with inflows of $13.82 billion, according to data released by India’s department for promotion of industry and internal trade (DPIIT). During the last fiscal, India attracted $5.64 billion in FDI from Mauritius.

Singapore remained the top source of FDI for the third consecutive fiscal at $17.41 billion, according to a news agency report.

Mauritius was followed by the United Arab Emirates ($4.2 billion), Cayman Island ($2.79 billion), the Netherlands ($2.78 billion), the United Kingdom ($2.04 billion), Japan ($1.95 billion), Germany ($667 million) and Cyprus ($386 million).

Overall foreign direct investments into India grew by 19 per cent to $59.64 billion during 2020-21. Total FDI, including equity, re-invested earnings and capital, rose by 10 per cent to the highest-ever $81.72 billion, as against $74.39 billion in 2019-20.

In 2020-21, the computer software and hardware sector attracted the highest inflow of $26.14 billion. It was followed by construction-infrastructure activities ($7.87 billion) and the services sector ($5 billion).

Fibre2Fashion News Desk (DS)

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