Business

India’s FDI Inflows Reach $1,033.40 Billion; Boosts Strong Economic Growth

Foreign Direct Investment (FDI) inflows into India have surged to $1,033.40 billion between April 2000 and September 2024, marking a significant milestone in the country’s rapidly growing economy.

According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), India continues to attract substantial foreign investments across various sectors.

The sectors that have seen the most significant FDI growth include automobiles, computer software, IT hardware, telecom, pharmaceuticals, chemicals, and services.

Notably, the non-conventional energy sector, considered a sunrise sector, has also recorded a substantial increase in FDI.

FDI inflows contribute to higher investments, job creation, and the introduction of advanced technology, which boosts productivity and drives economic growth.

A senior government official credited the surge to initiatives aimed at easing the business environment, including the Production-Linked Incentive (PLI) scheme, which has played a key role in attracting foreign investments.

The FDI momentum has carried into the current financial year, with a 45% increase in inflows during the April-September 2024 period, reaching $29.79 billion, compared to $20.5 billion during the same period in 2023-24.

The services sector also saw an uptick, receiving $5.69 billion in FDI, up from $3.85 billion last year.

State-wise data reveals that Maharashtra led the pack, receiving $13.55 billion in FDI during the first half of the current fiscal year. Other top performers included Karnataka ($3.54 billion), Gujarat (approximately $4 billion), and Telangana ($1.54 billion).

FDI inflows in the July-September quarter of 2024 saw a notable 43% increase, reaching $13.6 billion, compared to $9.52 billion in the same quarter of 2023-24.

Similarly, the April-June quarter witnessed a 47.8% rise, with inflows amounting to $16.17 billion.

Also Read: ISRO Successfully Launches ESA’s Proba-3 Sun Observation Mission

Mankrit Kaur

Recent Posts

PM Modi Announces Sending Lord Buddha’s Relics To Thailand

PM Modi announced that India will send relics of Lord Buddha, discovered in Gujarat’s Aravalli…

6 hours ago

PM Modi Shares Highlights From Bangkok: A Vibrant Welcome, Community Connect, & The Ramayan!

Prime Minister Narendra Modi highlighted the deep cultural ties between India and Thailand during his…

7 hours ago

Judicial Strength At Risk, Says Delhi HC Bar Association On Justice Singh’s Transfer

The Delhi High Court Bar Association has raised concerns over Justice Chandra Dhari Singh’s transfer…

7 hours ago

PM Modi: Thailand Key To India’s ‘Act East’ Policy & Indo-Pacific Vision

Prime Minister Narendra Modi, during his visit to Bangkok, highlighted Thailand's strategic importance in India's…

7 hours ago

Thailand Releases Commemorative Stamp Showcasing 18th-Century Ramayan Murals During PM Modi’s Visit

Thailand unveiled a commemorative stamp featuring 18th-century Ramayan mural paintings, marking the first day of…

8 hours ago

Centuries-Old Bonds Strengthen As India-Thailand Deepen Partnership: PM Modi

PM Modi and Thai PM Paetongtarn Shinawatra elevate India-Thailand ties to a strategic partnership in…

8 hours ago