Foreign direct investment (FDI) into the country rose by more than twofold to $17.57 billion during April-June this fiscal on account of measures such as policy reforms and ease of doing business, an official statement said on Saturday.
Total FDI inflow rose to $22.53 billion during the first three months of 2021-22 as against $11.84 billion in the same period of the last year, it said. Total FDI comprises equity inflows, reinvested earnings and other capital.
"FDI equity inflow grew by 168 per cent in the first three months of 2021-22 ($17.57 billion) compared to the year ago period ($6.56 billion)," it said.
The data showed that the automobile industry has emerged as the top sector during the period under review with 27 per cent share of the total FDI equity inflows. It was followed by computer software and hardware (17 per cent) and services Sector (11 per cent).
Further, Karnataka is the top recipient state during April-June 2021, with 48 per cent share of the total FDI equity inflows. It was followed by Maharashtra (23 per cent) and Delhi (11 per cent).
Measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased foreign inflows into the country, the commerce and industry ministry said.The FDI trends are an endorsement of India's status as a preferred investment destination amongst global investors, it added.