New Delhi: The Foreign Direct Investment into India has crossed thousand-billion dollars this week showcasing that the country is now the world’s favoured destination for foreign investors, NDTV reported citing a government report.
Between April 2000 and September 2024, the cumulative amount of FDI including equity, reinvested earnings and other capital touched a whopping USD 1,033.40 billion (or $1 trillion) according to data by the Department for Promotion of Industry and Internal Trade or DPIIT.
The country to contribute the most in terms of FDI was not the US or China but Mauritius at a massive 25 per cent of all FDI inflows, closely followed by Singapore at 24 per cent.
However, the contribution by the world’s largest economy, the US, is a distant third with 10 per cent.
Other countries investing in India include Netherlands at 7 per cent, Japan at 6 per cent, The UK at 5 per cent, and UAE at 3 per cent.
The list also include the Cayman Islands, Germany, and Cyprus all accounting for 2 per cent each.
The services and allied sectors saw the highest inflow of investment alongside significant inflow into computer software and hardware, telecommunications, trading, construction, infrastructure development, automobile, chemicals, and pharmaceuticals, according to the report.
Compared to previous decade, the country saw a 119 per cent uptick in investment between 2014 and 2024 with an inflow of USD 667.4 billion of the total the 1,033 billion dollars.
It is reported citing the data that FDI inflows reached nearly 60 sectors across 31 states and union territories of the country.
The FDI inflows increased after the government made its investment policies liberal and lucrative alongside the successful ‘Make in India’ initiative leading to a 69 per cent rise in FDI in the manufacturing sector.