US pips Mauritius as 2nd largest source of FDI in India in 2020-21, reports DPIIT data

New Delhi: The US replaced Mauritius as the second-largest source of foreign direct investment into India during 2020-21 with inflows of USD 13.82 billion, according to government data.

Singapore remained the top source of foreign direct investment (FDI) into the country for the third consecutive fiscal at USD 17.41 billion.

During the last financial year, India attracted USD 5.64 billion in FDI from Mauritius, according to the data by the Department for Promotion of Industry and Internal Trade (DPIIT).

The island country was followed by UAE (USD 4.2 billion), Cayman Island (USD 2.79 billion), Netherlands (USD 2.78 billion), UK (USD 2.04 billion), Japan (USD 1.95 billion), Germany (USD 667 million), and Cyprus (USD 386 million).

Overall foreign direct investments into the country grew 19 per cent to USD 59.64 billion during 2020-21 amid measures taken by the government for policy reforms, investment facilitation and ease of doing business.

Total FDI, including equity, re-invested earnings and capital, rose 10 per cent to the highest-ever USD 81.72 billion, as against USD 74.39 billion in 2019-20.

In 2020-21, the computer software and hardware sector attracted the highest inflows of USD 26.14 billion.

It was followed by construction – infrastructure activities (USD 7.87 billion) and the services sector (USD 5 billion).