India's FDI Surges 47.8% to $16.17 Billion in Q1 Fiscal

Foreign direct investment (FDI) in India grew significantly by 47.8% to USD 16.17 billion during April-June fiscal 2023-24. The increase was driven by healthy inflows in services, computer, telecom, and pharma sectors. Maharashtra led the states with the highest inflow, while FDI from Japan, the UK, and Germany declined.

Foreign direct investment (FDI) in India surged 47.8 per cent to USD 16.17 billion in the first quarter of this fiscal year, as per official data. The robust growth is attributed to significant inflows in the services, computer, telecommunications, and pharmaceutical sectors.

According to the Department for Promotion of Industry and Internal Trade (DPIIT), total FDI, encompassing equity inflows, reinvested earnings, and other capital, rose 28 per cent to USD 22.49 billion in April-June 2023-24 from USD 17.56 billion in the same period last year. Notably, Mauritius, Singapore, and the US were the major contributors.

Maharashtra topped the list of states with the highest FDI inflow, receiving USD 8.48 billion. In contrast, FDI inflows from Japan, the UK, and Germany saw a decline. Additionally, Delhi and Rajasthan experienced decreased inflows compared to the previous year.

(With inputs from agencies.)