FDI inflow at US$ 58. 37 billion during April to November 2020

NEW DELHI: Union Ministry of Commerce & Industry on Wednesday informed that the total Foreign Direct Investment (FDI) inflow was recorded at US$ 58. 37 billion during April to November 2020.

The government has been constantly working on major economic reforms in enabling investor-friendly FDI policy to attract investment inflows into the country, a press release issued by the ministry stated.

"The steps taken in this direction have borne fruit, as is evident from the ever-increasing volumes of FDI inflows being received into the country."

"During April to November 2020, total FDI inflow of US$ 58.37 billion has been received. It is the highest ever for the first 8 months of a financial year and 22% higher as compared to the first 8 months of 2019-20 (US$ 47.67 billion)," it mentioned.

It further added that the FDI equity inflows into the country during the Fiscal Year 2020-21(April to November 2020) amounted to US$ 43.85 billion, also the highest ever for the first 8 months of a financial year and 37% more compared to the first 8 months of 2019-20 (US$ 32.11 billion).

"Preferred FDI Destination: During April-November 2020, despite COVID, FDI inflows above 22%, & are highest ever for the first 8 months of a Financial Year. This is a clear indication of rising investor confidence in India under PM @NarendraModi ji's leadership," tweeted Union Minister of Commerce & Industry Piyush Goyal.

(Edited by Gabriel G Momin)