FDI in India Drops 5.6% to USD 10.9 Billion in Q3 2024

New Delhi, Mar 3 (PTI) Foreign direct investment in India dipped by 5.6 per cent year-on-year to USD 10.9 billion in October-December quarter of this fiscal due to global economic uncertainties, according to the government data.

FDI inflows during October-December 2023-24 stood at USD 11.55 billion.

According to the Department for Promotion of Industry and Internal Trade (DPIIT) data, in the July-September quarter of the current fiscal, the inflows were up by about 43 per cent year-on-year to USD 13.6 billion and had increased 47.8 per cent annually to USD 16.17 billion in the preceding April-June quarter.

Cumulatively, during the April-December 2024-25, the inflows registered a growth of 27 per cent to USD 40.67 billion as against USD 32 billion in the same period of 2023-24.

Total FDI, which includes equity inflows, reinvested earnings and other capital, grew by 21.3 per cent to USD 62.48 billion during the first nine months of this fiscal from USD 51.5 billion in April-December 2023-24.

During the April-December 2024-25, FDI equity inflows rose from major countries, including Singapore (USD 12 billion against USD 7.44 billion), the US (USD 3.73 billion against USD 2.83 billion), the Netherlands (USD 4 billion against USD 2.27 billion), the UAE (USD 4.14 billion against USD 2.43 billion), Cayman Islands (USD 296 million against USD 215 million) and Cyprus (USD 1.18 billion against USD 796 million).

However, inflows declined from Mauritius, Japan, the UK, and Germany.

Sectorally, inflows rose in services, computer software and hardware, trading, telecommunication, automobile, and chemicals.

FDI in services has increased to USD 7.22 billion during the first nine months of the current financial year as against USD 5.18 billion in the same period last year.

As per the data, FDI inflows in non-conventional energy stood at USD 3.5 billion.

The data also showed that Maharashtra received the highest inflow of USD 16.65 billion during April-December 2024-25. It was followed by Karnataka (USD 4.5 billion), and Gujarat (about USD 5.56 billion).