India's FDI In Apr-August Highest Ever For First 5 Months Of A Financial Year

Data released on Foreign Direct Investment (FDI) by the Ministry of Commerce & Industry on Tuesday showed that from April to August 2020, total FDI inflow of $35.73 billion was received.

"It is the highest ever for first 5 months of a financial year and 13% higher as compared to first five months of 2019-20 (US$ 31.60 billion)," the ministry said.

FDI equity inflow received during this period at $27.10 billion is also the highest ever for first 5 months of a financial year and 16 percent more compared to first five months of 2019-20 (US$ 23.35 billion).

"Measures taken by the Government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country," the statement said.

The commerce ministry data also released data for the last 6 years, the period under Narendra Modi-led NDA government, which showed that total FDI inflow rose by 55 percent from $231.37 billion in 2008-14 to $358.29 billion in 2014-20.

It further said that FDI equity inflow also increased by 57 percent from $160.46 billion during 2008-14 to $252.42 billion (2014-20).

FDI is an investment made by a firm or individual in one country into business interests located in another country, generally through establishing foreign business operations or acquiring foreign business assets in a foreign company.

During the said period, Reliance Industries Limited (RIL) alone attracted investment in billons for its subsidiary: Jio Platforms. The Mukesh Ambani led conglomerate sold a combined stake of 33 percent in Jio Platforms to 13 foreign investors for Rs 1.58 lakh crore.

Reliance Retail has so far raised Rs 37,710 crore from leading global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA in September and October.