India’s FDI inflows have been consistent, receiving a total of US$ 70.9 billion in foreign direct investment (FDI) during the financial year 2023-24. With this, India continues to demonstrate its ability to attract foreign investment inflows.
India has maintained consistent foreign investment inflows, receiving a total of US$ 70.9 billion in FDI during the financial year 2023-24. The country saw its highest FDI inflows of US$ 6 billion in October 2023, followed by US$ 5.9 billion in January 2024.
Of the total FDI, US$ 44.4 billion came from equity inflows in FY 2023-24, with US$ 12 billion recorded in the January-March 2024 quarter, representing a 33% year-on-year growth.
FDI inflows in the construction (infrastructure activities), construction development, and power sectors more than doubled in 2023-24. While FDI in the Power sector also increased from US$ 698 Million in 2022-23 to US$ 1,701 Million in 2023-24.
The cumulative FDI inflow into India from April 2000 to March 2024 reached US$ 990 billion, with FDI equity inflows totaling US$ 678 billion.
Mauritius was the largest contributor to India’s FDI inflows, accounting for 25%, followed by Singapore with 24%. The USA contributed 10%, the Netherlands 7%, and Japan 6% from April 2000 to March 2024. Since 2018-19, Singapore has been the largest contributor, while in 2017-18, Mauritius was the top source of FDI.
In FY 2023-24, Maharashtra was the major beneficiary, receiving 30% of total FDI inflows, followed by Karnataka with 22%, Gujarat with 17%, Delhi with 14%, and Tamil Nadu with 5%. FDI remains a crucial driver of economic growth and an essential source of non-debt finance for India’s economic development.
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