Manufacturing sector gets $21 billion FDI in FY22

The Commerce Department said Thursday that the manufacturing sector attracted foreign direct investment worth $21.34 billion in 2021-22, up 76 percent year-on-year.

She said the government has implemented several reforms within the framework of the foreign direct investment policy regime across sectors such as insurance, defence, telecommunications, financial services, pharmaceuticals, retail trade and e-commerce.

Singapore (27.01 percent) and the United States (17.94 percent) emerged as the largest investors during 2021-22 in India.

It was followed by Mauritius (15.98 percent), the Netherlands (7.86 percent), and Switzerland (7.31 percent).

She added, “FDI inflows into manufacturing sectors increased by 76 percent in the fiscal year 2021-2022 ($21.34 billion) compared to the previous fiscal year 2020-2021 ($12.09 billion).”

The ministry said that despite the ongoing pandemic and global developments, India received the “highest” annual FDI inflows of $84.83 billion in 2021-22.

The top five countries receiving the highest FDI in 2021-22 are Karnataka (37.55 percent), Maharashtra (26.26 percent), Delhi (13.93 percent), Tamil Nadu (5.10 percent) and Haryana (4.76 percent).