FDI inflow dips 1.4% to $10.67 bn in October-December period; services, telecommunications sectors attract maximum inflows

New Delhi: Foreign direct investment into India dipped marginally by 1.4 percent to $10.67 billion (about Rs 76,800 crore) during October-December period of 2019-20, according to government data. Inflow of foreign direct investment (FDI) during October-December of 2018-19 stood at $10.82 billion. FDI inflows in July-September period of the current financial year stood at $9.77 billion. [caption id=“attachment_4292949” align=“alignleft” width=“380”] Representational image. News 18.[/caption] During April-December period 2019-20, foreign investments into the country grew 10 percent to $36.76 billion as against $33.49 billion in the same period of 2018-19, according to the data. Sectors which attracted maximum foreign inflows during the nine-month period include services ($6.52 billion), computer software and hardware ($6.35 billion), telecommunications ($4.29 billion), automobile ($2.50 billion) and trading ($3.52 billion). Singapore continued to be the largest source of FDI in India during April-December period of the current financial year with $11.65 billion investments. It was followed by Mauritius ($7.45 billion), the Netherlands ($3.53 billion), Japan ($2.80 billion) and the US ($2.79 billion). FDI is important as the country requires major investments to overhaul its infrastructure sector to boost growth. The government had last year relaxed foreign investment norms in sectors such as brand retail trading, coal mining and contract manufacturing.