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DPIIT: FDI inflows rose 15% to $26 Bn in 1st half of FY2020; Singapore largest FDI source of India

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On January 2, 2020, According to the data released by the Department for Promotion of Industry and Internal Trade (DPIIT), the Foreign Direct Investment (FDI) in India rose 15% to $26 billion in the first half of FY2020 (Fiscal year 2020). Singapore continued to be the largest source of FDI in India during the first half of FY2020 with $8 billion investments. The inflow of FDI during April-September of 2018-19 stood at $22.66 billion. The data in brief are as follows:DPIIT data:

i.Other top FDI sourcing countries to India: Singapore was followed by Mauritius ($6.36 billion), the United States(US) ($2.15 billion), the Netherlands ($2.32 billion), and Japan ($1.78 billion) in the 2nd, 3rd, 4th and 5th place respectively.

ii.Some of the sectors that attracted maximum foreign inflows during April-September 2019-20 include

  • Services at $4.45 billion
  • Computer software and hardware at $4 billion
  • Telecommunications at $4.28 billion
  • Automobile at $2.13 billion and
  • Trading at $2.14 billion.

Foreign Direct Investment:
A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country.

  • India gets FDI through 2 routes. They are automatic route and government route.
  • The govt. has revised it norms on FDI. It includes permit of 100% FDI under automatic route for sale of coal, for coal mining activities including associated processing infrastructure.
  • The government has allowed 100% FDI through the automatic route for contract manufacturing.
  • 26% FDI under government route has been permitted for uploading/ streaming of news & current affairs through digital media, on the lines of print media.

Rank:

Rank  Largest source of FDI in India
1 Singapore
2 Mauritius
3 United States

About Department for Promotion of Industry and Internal Trade (DPIIT):
Fact- In January 27, 2019 the Department of Industrial Policy & Promotion(DIPP) was renamed to Department for Promotion of Industry and Internal Trade after internal trade was added to its mandate.
Headquarters- New Delhi.
Founded- 1995.