US pips Mauritius as India's 2nd largest source of FDI

The US replaced Mauritius as the second largest source of foreign direct investment into India during 2020-21 with inflows of $13.82 billion, according to government data.

Singapore remained the top source of foreign direct investment (FDI) into the country for the third consecutive fiscal at $17.41 billion.

During the last financial year, India attracted $5.64 billion in FDI from Mauritius, according to the data by the Department for Promotion of Industry and Internal Trade (DPIIT).

The island country was followed by UAE ($4.2 billion), Cayman Island ($2.79 billion), Netherlands ($2.78 billion), UK ($2.04 billion), Japan ($1.95 billion), Germany ($667 million), and Cyprus ($386 million).

Overall foreign direct investments into the country grew 19 per cent to $59.64 billion during 2020-21 amid measures taken by the government for policy reforms, investment facilitation and ease of doing business.

Total FDI, including equity, re-invested earnings and capital, rose 10 per cent to the highest-ever $81.72 billion, as against $74.39 billion in 2019-20.

In 2020-21, the computer software and hardware sector attracted the highest inflows of $26.14 billion. It was followed by construction - infrastructure activities ($7.87 billion) and services sector ($5 billion).