Table of Contents
FDI inflows declined by 3.49% in FY24
The Foreign Direct Investment equity inflows in the financial year 2023-24 declined by 3.49% to $44.42 billion. It was depressed by around 3.5 percent from last year’s collection. The FDI inflows in 2022-23 stood at $46.03 billion.
Reasons:
The reason for this lower trend of FDI inflows in India is less infusion in some important sectors such as services,computer hardware and software, Telecom,auto and pharma.
However the FDI inflows in the starting of the year 2024 rose by 33.4 percent to $12.38 billion during the period of January to March against the last year’s $9.28 billion in the same period.
Total FDI inflows:
According to the data released by the Department for Promotion of Industry and internal trade,If we talk about the total FDI including equity, reinvested earnings and other capital stood at $70.95 billion in 2023-24 slightly declined by one percent from last year’s $71.35 billion total FDI inflows.
The highest FDI inflows till yet was received by the country in 2021-22 which stood at $84.83 billion.
State’s performance:
As per the data, Maharashtra became the state which received highest FDI in the last fiscal year which is 15.1 billion. It received 14.8. billion in 2022-23. Gujarat became the second state to receive second highest FDI inflows at 7.3 billion. Some other states such as Telangana, Tamil Nadu and Jharkhand also witnessed growth in the FDI inflows.
Some parts of the country including Delhi, Rajasthan, Uttar Pradesh and Haryana witnessed the decline in the FDI inflows in 2023-24.
Conclusion:
Overall, FDI plays a crucial role in the economic development of host countries by providing capital, creating jobs, enhancing skills, and facilitating access to new technologies and markets.
Important Questions:
- What is the value of total FDI inflows in 2023-24?
- What are some reasons behind the declination of FDI inflows in 2023-24?
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