fdi: FDI equity inflows shrink 6% in Apr-Jun – Blue Barrows

Foreign Direct Investment (FDI) equity inflows into India contracted 6% to $16.58 billion in the first quarter of FY23 from $17.56 billion in the year-ago period, data from the Department for Promotion of Industry and Internal Trade (DPIIT) showed.

Total FDI, which includes equity inflows, reinvested earnings and other capital, shrank 0.79% to $22.34 billion in April-June, 2022-23 from $22.52 billion in the corresponding quarter of last fiscal.

Singapore was the top investment source during the quarter with $5.68 billion FDI, followed by Mauritius at $2.36 billion and the UAE at $2.14 billion.

Computer software and hardware sector attracted the highest inflows of $3.5 billion during the period with services coming in second at $2.6 billion and trading at $2 billion.

The month of April had the highest FDI of $6.45 billion in the quarter

Among states, Maharashtra was the top destination for FDI, followed by Gujarat and Karnataka.