24% drop in FDI inflows in H1

New Delhi: Foreign direct investment (FDI) equity inflows in India declined 24 per cent to $ 20.48 billion in April-September 2023, dragged by lower inflows in computer hardware and software, telecom, auto and pharma, according to government data.

FDI inflows stood at $ 26.91 billion during the first six months of the last fiscal. Inflows during January-March 2023 also contracted 40.55 per cent to $ 9.28 billion. During April-June last year, it declined 34 per cent to $10.94 billion. Investments from overseas fell in April, May, June, July and August.

However, in September, it rose to $4.08 billion compared to $2.97 billion in the same month last year, the data from the Department for Promotion of Industry and Internal Trade (DPIIT) showed. The total FDI, which includes equity inflows, reinvested earnings and other capital, contracted 15.5 per cent to $32.9 billion during the period under review against $38.94 billion in April-June 2022.