According to the data provided by the government, foreign direct investment (FDI) into India declined 34 per cent to _______during April-June 2023-24, dragged by lower inflows in computer hardware and software, telecom, auto and pharma.

Solution

According to the data provided by the government, foreign direct investment (FDI) into India declined 34 percent to USD 10.94 billion during April-June 2023-24, dragged by lower inflows in computer hardware and software, telecom, auto and pharma.  FDI inflows stood at USD 16.58 billion during April-June 2022-23.  Total FDI, which includes equity inflows, reinvested earnings and other capital, contracted 21.4 per cent to USD 17.56 billion during the period under review as against USD 22.34 billion in April-June 2022.   During the quarter, FDI equity inflows decreased from major countries including Singapore, Mauritius, the US, UK, and UAE.      However, inflows increased from the Netherlands, Japan and Germany. Sector-wise, inflows contracted in computer software and hardware, trading, telecommunication, automobile, pharma and chemicals.State-wise, though Maharashtra received the highest inflow of USD 4.46 billion during the period, it was down as compared to USD 5.24 billion in April-June 2022.   Similarly, overseas inflows in Karnataka plunged to USD 1.46 billion in April-June 2023 as against USD 2.8 billion in the same period last year. Other states/UTs where FDI dipped in the quarter include Gujarat, Rajasthan, Delhi, Tamil Nadu, and Haryana. On the other hand, FDI in Telangana, Jharkhand, and West Bengal reported growth during the quarter.