“India is fast emerging as a preferred country for foreign investment in manufacturing,” the ministry said.
“India recorded a maximum annual FDI inflow of US 83 83.57 billion in FY 2021-22,” it noted.
FDI equity inflows to the manufacturing sector increased 76 percent in 2021-22 (USD 21.34 billion) compared to 2020-21 (USD 12.09 billion).
In terms of top investing countries, Singapore topped the list last fiscal year with 27 percent, followed by the United States (18 percent) and Mauritius (16 percent).
Among the sectors, computer software and hardware have attracted the most flow. This has been followed by the service sector and the automobile industry, the ministry said.
To further liberalize and simplify FDI policy to facilitate business and attract investment, sectors such as coal mining, contract manufacturing, digital media, single-brand retail, civil aviation, defense, insurance and telecom have recently been reformed. .