Foreign Direct Investment (FDI) in India rose by 15 percent to $26 billion during the first half of the financial year 2019-20, according to government data. In comparison, the FDI inflow in April-September 2018 stood at $22.66 billion.
Sectors that attracted maximum foreign inflows during April-September 2019-20 period include services ($4.45 billion), computer software and hardware ($4 billion), telecommunications ($4.28 billion), automobile ($2.13 billion) and trading ($2.14 billion) as per data released by the commerce and industry ministry.
Singapore was the largest source of FDI in India during the first half of the financial year with $8 billion in investments, followed by Mauritius ($6.36 billion), the US ($2.15 billion), the Netherlands ($2.32 billion), and Japan ($1.78 billion).
FDI is important as the country requires major investments to overhaul its infrastructure sector to boost growth.
Recently, the government relaxed foreign investment norms in sectors such as brand retail trading, coal mining and contract manufacturing.
Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Guruprasad Mohapatra said that despite a slowdown in the global economy, inflows of foreign investment into the country have not been impacted.