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( 28 Jul 2022)
Manufacturing sector gets USD 21 bn FDI in FY22

The manufacturing sector attracted foreign direct investments worth USD 21.34 billion in 2021-22, an increase of 76 percent year-on-year, the commerce ministry said on Thursday.

It said the government has implemented several reforms under the FDI policy regime across sectors such as insurance, defense, telecom, financial services, pharmaceuticals, retail trading, and e-commerce.

Singapore (27.01 percent) and the US (17.94 percent) have emerged as the top two investors during 2021-22 in India.

These were followed by Mauritius (15.98 per cent), the Netherlands (7.86 percent), and Switzerland (7.31 percent).

"FDI equity inflows in the manufacturing sectors have increased by 76 percent in FY 2021-22 (USD 21.34 billion) compared to previous FY 2020-21 (USD 12.09 billion)," it added.

The ministry said that despite the ongoing pandemic and global developments, India received the "highest" annual FDI inflows of USD 84.83 billion in 2021-22.

The top five states receiving the highest FDI in 2021-22 are Karnataka (37.55 percent), Maharashtra (26.26 percent), Delhi (13.93 percent), Tamil Nadu (5.10 percent), and Haryana (4.76 percent).