FDI inflows fall 3% to USD 44 billion in FY24

New Delhi: Foreign direct investment (FDI) equity inflows in India declined 3.49 per cent to USD 44.42 billion in 2023-24 due to lower infusion in sectors such as services, computer hardware and software, telecom, auto and pharma, according to the government data.

FDI inflows stood at USD 46.03 billion during 2022-23.

Inflows during January-March FY24 , however, rose by 33.4 per cent to USD 12.38 billion as against USD 9.28 billion in the year-ago period.

The total FDI -- which includes equity inflows, reinvested earnings and other capital -- declined marginally by one per cent to USD 70.95 billion during 2023-24 as against USD 71.35 billion in 2022-23, data from Department for Promotion of Industry and Internal Trade (DPIIT) showed.

In 2021-22, the country received the highest ever FDI inflows of USD 84.83 billion.

During the last fiscal, FDI equity inflows decreased from major countries, including Mauritius, Singapore, the US, the UK, UAE, Cayman Islands, Germany, and Cyprus.

However, inflows increased from the Netherlands and Japan.

Sectorally, inflows contracted in services, computer software and hardware, trading, telecommunication, automobile, pharma and chemicals.

In contrast, construction (infrastructure) activities, development and power sectors registered healthy growth in inflows during the period under review.

FDI equity inflows into India declined 22 per cent in 2022-23.