India's FDI steady at US$ 70.9 billion in FY24, inflows more than doubled in the construction sector

India has maintained a consistent inflow of foreign investment, receiving a total Foreign Direct Investment (FDI) of US$ 70.9 billion in FY24. The highest FDI during this period was recorded in October 2023 at US$ 6 billion, followed by US$ 5.9 billion in January 2024. Of the total FDI, the FDI equity inflow for FY24 was US$ 44.4 billion. The equity inflows for the quarter from January 2024 to March 2024 amounted to US$ 12 billion, marking a 33% YoY growth. Notably, the FDI inflow into the construction (infrastructure activities), construction development, and power sectors more than doubled in 2023-24. The cumulative FDI inflow into the country stood at US$ 990 billion. The cumulative FDI equity inflow reached US$ 678 billion from April 2000 to March 2024.

Mauritius emerged as the largest contributor to the country’s FDI inflow with 25%, followed by Singapore with 24%. The USA accounted for 10%, the Netherlands 7%, and Japan 6% of the total FDI inflow during the same period. Since 2018-19, Singapore has been the largest contributor to India’s FDI inflow. However, in 2017-18, the maximum FDI was attracted from Mauritius. In FY24, Maharashtra was the major beneficiary of FDI inflows, receiving 30%, followed by Karnataka with 22%, Gujarat with 17%, Delhi with 14%, and Tamil Nadu with 5%. FDI plays a crucial role in driving economic growth and is an important source of non-debt finance for the country's economic development.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.