Karnataka’s Auto Industry gets 88% FDI Equity inflows
India received foreign direct investment (FDI) of US$22.53 billion during first quarter of (April-June) 2021-22, almost double of US$11.84 billion reported in the first three months of 2020-21, reported Commerce and Industry Ministry on 28 Aug 2021.
The Ministry attributed the increase in FDI inflow to FDI policy reforms, investment facilitation and ease of doing business.
FDI equity inflow grew by 168% in the first three months of 2021-22 to US$17.57 billion from US$6.56 billion received in the corresponding period of last fiscal year.
Automobile Industry’ has emerged as the top sector securing investments during the first quarter of 2021-22, accounting for 27% share of the total FDI Equity inflow.
Computer Software & Hardware was second with 17% of the total FDI Equity inflow followed by Services Sector at 11%.
Under the sector `Automobile Industry’, Karnataka state received majority of FDI Equity inflow (88%) during the first three months of the current financial year.
Karnataka is the top FDI Equity recipient state during the 2021-22 (up to June, 2021) with 48% share of the total funds recorded. Maharashtra was second at 23% and Delhi at 11% of the total FDI Equity inflow, said the Ministry. #investment #banking #manufacturing #exports
