NEW DELHI: Foreign direct investment (FDI) in India has increased by 16 per cent year-on-year to $27.1 billion during April-August this year, the Commerce and Industry Ministry said.
During April-August last year, India had received FDI worth $23.35 billion.
The ministry said that the total FDI, which includes reinvested earnings, grew by 13 per cent to $35.73 billion. "It is the highest ever for the first 5 months of a financial year and 13 per cent higher as compared to the first five months of 2019-20 ($31.60 billion)," it added.
It also stated that the total FDI inflow grew by 55 per cent from $231.37 billion in 2008-14 to $358.29 billion in 2014-20.
"FDI is a major driver of economic growth and an important source of non-debt finance for the economic development of India. It has been the endeavour of the government to put in place an enabling and investor friendly FDI policy. The intent all this while has been to make the FDI policy more investor friendly and remove the policy bottlenecks that have been hindering the investment inflows into the country," it said.
