Inflows during the period from January to March FY24, however, the FDI rose by 33.4 per cent to $12.38 billion as against $9.28 billion in the year-ago period. The total FDI — which includes equity inflows, reinvested earnings and other capital — declined marginally by one per cent to $70.95 billion during 2023-24 from $71.35 billion in 2022-23, data from department for promotion of industry and internal trade (DPIIT) showed.
As per the data, the country received the highest ever FDI inflows of $84.83 billion in 2021-22. During the last fiscal, the FDI equity inflows decreased from major countries, including Mauritius, Singapore, the US, the UK, UAE, Cayman Islands, Germany, and Cyprus, while inflows increased from the Netherlands and Japan.
The data also showed that sectorally, inflows contracted in services, computer software and hardware, trading, telecommunication, automobile, pharma and chemicals. In contrast, construction (infrastructure) activities, development and power sectors registered healthy growth in inflows during the period under review. The FDI equity inflows into India declined 22 per cent in 2022-23.
“The data also showed that Maharashtra received the highest inflow of $15.1 billion during the last fiscal. It was $14.8 billion in 2022-23. Similarly, inflows into Gujarat rose to $7.3 billion in 2023-24 from $4.7 billion in 2022-23. The growth was also recorded in Tamil Nadu, Telangana and Jharkhand,” it showed.
Overseas capital inflows, it showed, in Karnataka plunged to $6.57 billion from $10.42 billion in 2022-23. Other states/Union Territories where FDI dipped during the period under review included Delhi, Rajasthan, Uttar Pradesh and Haryana.
