FDI equity inflows into India contracted marginally, by 1%, to $58.77 billion during 2021-22, according to official data.
The FDI equity inflows stood at ₹59.63 billion during 2020-21, data from the Department for Promotion of Industry and Internal Trade (DPIIT) showed.
However, total foreign direct investment into India rose by 2% to the “highest ever” $83.57 billion in 2021-22. Total FDI inflows include equity inflows, reinvested earnings and other capital.
During 2021-22, Singapore was at the top with $15.87 billion worth of investments. It was followed by the U.S. ($10.55 billion), Mauritius ($9.4 billion), the Netherlands ($4.62 billion), Cayman Islands ($3.81 billion), and the U.K. ($1.65 billion), the data showed.
The computer software and hardware sector attracted the highest inflows of $14.5 billion during the last fiscal. It was followed by services ($7.1 billion), automobile industry ($7 billion), trading ($4.5 billion) construction (infrastructure) activities ($3.3 billion) and pharmaceuticals ($1.4 billion), as per the data.