India attracted record high FDI

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Total foreign direct investment (FDI) in India in the fiscal year 2019-2020 reached a record $ 49.97 billion, up 13% from the previous fiscal year.
India attracted record high FDI
Total FDI into India in the fiscal year 2019-2020 reached a record $ 49.97 billion . Photo: Gettyimage.

According to India’s Department of Industrial and Trade Promotion (DPIIT), if the equity of unincorporated businesses, reinvestments and other capital is taken into account, the total FDI gained in the past year in at 73.4 billion dollars , up 18% from $ 63 billion in the fiscal year 2018-2019.

The service sector, including finance, banking, insurance and outsourcing, was the largest recipient of foreign investment with US $ 7.8 billion , followed by the software and computer hardware sector. $ 7.67 billion , telecom $ 4.44 billion , trade $ 4.57 billion , auto industry $ 2.82 billion , construction $ 2 billion and chemicals $ 1 billion .

Geographically, Maharashtra continues to be the most popular destination for investors, attracting US $ 7.2 billion of FDI last year, followed by Karnataka state with US $ 4.2 billion , the prime region. Delhi capital attracted 3.9 billion USD .

The state of Gujarat, home to incumbent Prime Minister Narendra Modi, has attracted US $ 2.5 billion . A. Ang attention Jharkhand state attracted $ 1.8 billion in 2019-20 20.

Regarding investment partners, Singapore emerged as the largest source of FDI in India in the past fiscal year with a total investment of 14.67 billion USD , followed by Mauritius at 8.24 billion USD , Netherlands with 6.5 billion USD. , US $ 4.22 billion , Japan 3.2 billion USD ...

FDI plays a very important role for India, according to the economic development strategy for the period of 2019-2024, India is in need of about USD 1,000 billion of investment capital to upgrade the infrastructure system to serve the increase. economic growth.

Previously, on 17 April, DPIIT revised regulations on policies to attract FDI from neighboring countries including China, Nepal, Myanmar, Bhutan, Afghanistan, Pakistan and Bangladesh to India, which must be approved by the Indian government. preview.

Accordingly, a business of neighboring countries, or owners, who enjoy benefits from FDI in India, which in neighboring countries, or citizens of neighboring countries when investing FDI access to India requires prior government approval. This is considered a regulation to prevent capital inflows from China.

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