India received record Foreign Direct Investment (FDI) inflow of $58.37 billion during the first eight months of this fiscal year despite the Covid-19 pandemic.
The FDI inflow during April to November was 22% higher than the first 8 months of 2019-20, when India received $47.67 billion.
FDI is a major driver of economic growth and an important source of non-debt finance for the economic development of India.
Measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country, Ministry of Commerce & Industry said in a statement.
FDI equity inflow received during April to November was at $43.85 billion. It is also the highest ever for first 8 months of a financial year and 37% more compared to first 8 months of 2019-20.