Foreign direct investment (FDI) in India dipped by 5.6% year-on-year to $10.9 billion in October-December quarter of this fiscal due to global economic uncertainties, government data said on Monday. FDI inflows during October-December 2023-24 stood at $11.55 billion.
As per the data released by the Department for Promotion of Industry and Internal Trade (DPIIT) in July-September quarter, the inflows were up by about 43% year-on-year to $13.6 billion.
This has increased 47.8%annually to $16.17 billion in the preceding April-June quarter.
During the April-December 2024-25, the inflows registered a growth of 27% to $40.67 billion as against $32 billion in the same period of 2023-24.
Total FDI including equity inflows reinvested earnings and other capital, grew by 21.3% to $62.48 billion during the first nine months of this fiscal from $51.5 billion in April-December 2023-24.
The data said that during the April-December 2024-25, FDI equity inflows rose from major countries, including Singapore at $12 billion against $7.44 billion, the US at $3.73 billion against $2.83 billion, the Netherlands at $4 billion against $2.27 billion, the UAE at $4.14 billion against $2.43 billion, Cayman Islands at $296 million against $215 million and Cyprus at $1.18 billion against $796 million.
Notably the FDI inflows declined from Mauritius, Japan, the UK, and Germany in the said period.
Among the sectors, inflows rose in services, computer software and hardware, trading, telecommunication, automobile, and chemicals.
FDI in services has increased to $7.22 billion during the first nine months of the current financial year as against $5.18 billion in the same period last year.