Foreign Direct Investment (FDI) equity inflows into India contracted by 6 per cent to USD 16.59 billion during the April-June quarter this fiscal, according to the data of the Department for Promotion of Industry and Internal Trade (DPIIT). The inflows had stood at USD 17.56 billion during the corresponding period of the previous year.
The total FDI inflows (which includes equity inflows, re-invested earnings and other capital) aggregated at USD 22.34 billion during the first three months of the current fiscal year as against USD 22.52 billion in the year-ago period.
Singapore emerged as the top investor during April-June period with USD 5.7 billion FDI. It was followed by Mauritius (USD 2.4 billion), UAE (USD 2.2 billion), USA (USD 1.5 billion), Netherland (USD one billion), and Japan (USD 851 million), the data showed.The computer software and hardware sector attracted the highest inflows of USD 3.5 billion during the three-month period of this fiscal. It was followed by services (USD 2.6 billion), trading (USD 2 billion), chemicals (USD 960 million), automobile industry (USD 691 million) and construction (infrastructure) activities (USD 680 million).