FDI: Manufacturing sector will get USD 21 billion FDI in FY22

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The manufacturing sector attracted overseas direct investments price USD 21.34 billion in 2021-22, a rise of 76 per cent year-on-year, the commerce ministry stated on Thursday. It stated the federal government has carried out a number of reforms beneath the FDI coverage regime throughout sectors corresponding to insurance coverage, defence, telecom, monetary providers, prescribed drugs, retail buying and selling, and e-commerce.

Singapore (27.01 per cent) and the US (17.94 per cent) have emerged as the highest two traders throughout 2021-22 in India.

These have been adopted by Mauritius (15.98 pet cent), the Netherlands (7.86 per cent) and Switzerland (7.31 per cent).

“FDI fairness inflows within the manufacturing sectors have elevated by 76 per cent in FY 2021-22 (USD 21.34 billion) in comparison with earlier FY 2020-21 (USD 12.09 billion),” it added.

The ministry stated that regardless of the continued pandemic and world developments, India obtained the “highest” annual FDI inflows of USD 84.83 billion in 2021-22.

Prime 5 sates receiving highest FDI in 2021-22 are Karnataka (37.55 per cent), Maharashtra (26.26 per cent ), Delhi (13.93 per cent ), Tamil Nadu (5.10 per cent ) and Haryana (4.76 per cent ).

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