Manufacturing sector gets $21 bn FDI in FY22, increases by 76% YoY

The manufacturing sector attracted foreign direct investments worth USD 21.34 billion in 2021-22, an increase of 76 per cent 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, defence, telecom, financial services, pharmaceuticals, retail trading, and e-commerce.

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

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

"FDI equity inflows in the manufacturing sectors have increased by 76 per cent 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.

Top five sates receiving highest FDI in 2021-22 are Karnataka (37.55 per cent), Maharashtra (26.26 per cent ), Delhi (13.93 per cent ), Tamil Nadu (5.10 per cent ) and Haryana (4.76 per cent ).