FDI at $44.37 billion in FY19; inflows down in pharma, telecomhttps://indianexpress.com/article/business/economy/fdi-at-44-37-billion-in-fy19-inflows-down-in-pharma-telecom-5753398/

FDI at $44.37 billion in FY19; inflows down in pharma, telecom

The last time foreign fund inflows showed a reduction was in 2012-13, when inflows registered a contraction of 36 per cent to $22.42 billion as against $35.12 billion in 2011-12.

Foreign direct investment, FDI, FDI India, FDI in pharma, FDI in telecom, Indian express
In 2017-18, FDI inflows were at a record .85 billion, the data showed. (Reuters)

Foreign direct investment (FDI) in the country declined for the first time in the last six years in 2018-19, falling 1 per cent to $44.37 billion as overseas fund inflows slowed down in pharma, telecom and other sectors, latest data by the Department for Promotion of Industry and Internal Trade (DPIIT) showed.

In 2017-18, FDI inflows were at a record $44.85 billion, the data showed. The last time foreign fund inflows showed a reduction was in 2012-13, when inflows registered a contraction of 36 per cent to $22.42 billion as against $35.12 billion in 2011-12.

Since FY13, the inflows kept on growing, reaching a record high in FY18. DPIIT data showed that FDI inflows in pharmaceuticals, construction development, power and telecommunication sectors declined significantly last fiscal.

FDI in pharmaceuticals fell from $1 billion in 2017-18 to $266 million in FY19; in construction development, from $540 million to $213 million; in power, from $1.62 billion to $1.1 billion; and in telecom sector, from $6.21 billion to $2.67 billion.

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Sectors that witnessed a growth in FDI include service ($9.15 billion), computer software and hardware ($6.41 billion), trading ($4.46 billion), and automobile ($2.62 billion).

Meanwhile, Singapore became the top source of foreign investment into India last fiscal, accounting for $16.22 billion inflows. Mauritius, which was the top investor in India last fiscal, invested in $8 billion in FY19. Other major investors in the country include Japan, the Netherlands, the UK, the US, Germany, Cyprus, the UAE and France. —WITH PTI