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India registers highest FDI of USD 81.97 Billion in current financial year

Further to enhance India’s manufacturing capabilities and exports, Government has earmarked an outlay of INR 1.97 lakh crore

Statesman News Service | New Delhi |

Notwithstanding Covid related disruptions, India registered its highest Foreign Direct Investment to the tune of US$ 81.97 billion in the financial year 2020-21, said Minister of State in the Ministry of Commerce and Industry Som Parakash here on Friday.

“These trends in India’s FDI are an endorsement of its status as a preferred investment destination amongst global investors,” the Minister said while replying to a question in the Rajya Sabha.

In the last seven financial years, India has received FDI inflow worth US$ 440.27 billion which is nearly 58 percent of the FDI reported in the last 21 years (US$ 763.83 billion), the Minister said.

The Minister said India has taken a series of measures to improve the country’s investment climate as a result India jumped to 63rd place in World Bank’s Ease of Doing Business [EODB] in 2020 from a rank of 142 in 2014.

Further to enhance India’s manufacturing capabilities and exports, Government has earmarked an outlay of INR 1.97 lakh crore (over US$ 26 billion) in Union Budget 2021-22 for Production Linked Incentives (PLI) schemes for 14 key sectors of manufacturing starting from fiscal year (FY) 2021-22, the Minister said