After contracting for a year, foreign direct investment (FDI) inflows into India picked up in FY20 to grow at 13% as Cayman Islands emerged as a major source of foreign investment into the country.
Data released by the DPIIT showed India’s FDI equity inflows jumped to $50 billion in FY20 from $44.4 billion a year ago. Including reinvested earnings, FDI in FY20 grew 18% to $73.4 billion. “In another strong vote of confidence in “Make In India", total FDI into India grew 18% in 2019-20 to reach $73 billion.
Total FDI has doubled from 13-14 when it was only $36 billion. This long term investment will spur job creation," commerce minister Piyush Goyal tweeted.