FDI Inflows In India At US$ 84.84 Billion In FY22, Says MoS Commerce & Industry

8 Dec 2022 , 09:05 AM

Foreign Direct Investment (FDI) inflows in India stood at US $ 45.15 billion in 2014-2015 and have continuously increased since then, and India registered its highest ever annual FDI inflow of US$ 84.84 billion (provisional figures) in the financial year 2021-22, Minister of State for Commerce and Industry, Shri Som Parkash said. The reforms taken by Government have resulted in increased FDI inflows in the country. Make in India initiative has significant achievements and presently focuses on 27 sectors under Make in India 2.0. Department for Promotion of Industry and Internal Trade (DPIIT) coordinates action plans for 15 manufacturing sectors, while Department of Commerce coordinates 12 service sector plans. Keeping in view Indias vision of becoming Atmanirbhar and to enhance Indias Manufacturing capabilities and Exports, an outlay of INR 1.97 lakh crore (over US$ 26 billion) has been announced in Union Budget 2021-22 for PLI schemes for 14 key sectors of manufacturing, starting from fiscal year (FY) 2021-22. As per Economic Survey 2021-22, inspite of Covid related disruptions there is trend of positive overall growth of Gross Value Addition (GVA) in manufacturing sector. The total employment in this sector has increased from 57 million in the year 2017-18 to 62.4 million in the year 2019-20.Powered by Capital Market – Live News