India's FDI steady at USD 70.9 billion in FY24, inflows more than doubled in the construction sector

New Delhi [India], June 5 (ANI): Maintaining consistency in attracting foreign investment inflows, India has received a total foreign direct investment (FDI) inflow of USD 70.9 billion in the financial year 2023-24.
India received the highest FDI of USD 6 billion in October last year followed by USD 5.9 billion in January 2024.
Out of total FDI flows, FDI equity inflow received during FY 2023-24 stood at USD 44.4 billion. The equity inflows for the quarter January 2024 to March 2024 stood at USD 12 billion registering a 33 per cent year-on-year growth.
The FDI inflow in construction (infrastructure activities), construction Development and power sectors more than doubled in 2023-24.
Further, the cumulative amount of FDI inflow into the country stood at USD 990 billion and the cumulative amount of EDI Equity inflow into India stands at USD 678 billion during the period April 2000 to March 2024.
The largest contributor to the country's FDI inflow was Mauritius with a total of 25 per cent, followed by Singapore which infused 24 per cent of the total FDI inflow in the country. The share of the USA stood at 10 per cent, the Netherlands at 7 per cent and the share of Japan stood at 6 per cent from April 2000 to March 2024.
Singapore continued to be the largest contributor to India's FDI inflow since 2028-19, as per the government data. In 2017-18, India attracted the maximum FDI from Mauritius.
The major beneficiary of the FDI inflow during the financial year 2023-24 was Maharashtra with 30 per cent followed by Karnataka received 22 per cent. Gujarat received 17 per cent of total FDI inflows. While the national capital Delhi received 14 per cent and Tamilnadu 5 per cent of total FDI inflows.
FDI is a major driver of economic growth and an important source of non-debt finance for the economic development of the country. (ANI)