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Thursday, June 17, 2021

FDI equity inflows at record $60 billion in FY21

Singapore remained the top FDI source, accounting for 29 per cent of the inflows last fiscal, followed by the US (23 per cent) and Mauritius (9 per cent).

By: ENS Economic Bureau | New Delhi |
May 25, 2021 3:35:20 am
The gross FDI, too, had risen by a healthy 22 per cent up to December last fiscal before easing in the March quarter.

Foreign direct investment (FDI) in equity in India rose 19 per cent year-on-year last fiscal to a record $59.6 billion despite the onslaught of the pandemic. However, such inflows, which had jumped as much as 40 per cent between April and December, seem to have lost some momentum in the March quarter.

The gross FDI inflows, which include FDI in equity, reinvested earnings, the equity capital of unincorporated bodies and other capital, rose 10 per cent year-on-year to an all-time high of $81.7 billion in FY21, showed the data released by the commerce and industry ministry on Monday. The gross FDI, too, had risen by a healthy 22 per cent up to December last fiscal before easing in the March quarter.

Singapore remained the top FDI source, accounting for 29 per cent of the inflows last fiscal, followed by the US (23 per cent) and Mauritius (9 per cent). —FE

First phase of MCA21 version 3.0: Web-based forms, pre-fill mechanism

NEW DELHI: Minister of State for Corporate Affairs Anurag Singh Thakur on Monday launched the new version of the Corporate Affairs Ministry’s MCA21 e-services portal which introduces e-consultation on policy reforms and a revamped website.

Thakur launched the first phase of MCA21 version 3.0 which is set to include e-adjudication, revamped company data services.

The portal allows companies to complete mandatory filings online and allows users to access public information about registered companies. The final phase is likely to be rolled out in October.

The new module is set to allow virtual public consultation on key policy issues as well as leverage artificial intelligence to create analytical reports based on stakeholder comments. Corporate Affairs Secretary Rajesh Verma said it would reduce the requirements of attachments, make the forms web-based and strengthen the pre-fill mechanism.

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