Net foreign direct investment (FDI) during the April-June period of the current financial year was $6.9 billion, compared to $4.7 billion in the year-ago period, the latest data released by the Reserve Bank of India showed.
The increase was due to an improvement in gross inward FDI, which grew by 26.4 per cent year-on-year (Y-o-Y) to $22.5 billion during Q1 of 2024-25.
Manufacturing, financial services, communication services, computer services, and electricity and other energy sectors accounted for about 80 per cent of the gross FDI inflows.
“With around 75 per cent of the flows, the major source countries were Singapore, Mauritius, the Netherlands, the US, and Belgium,” RBI’s state of the economy report said.
Net FDI flow dropped sharply to $9.8 billion in FY24, from $28 billion in the previous year. In FY22, net FDI flows into the country were $38.6 billion.
First Published: Aug 19 2024 | 8:45 PM IS