Foreign direct investment drops 5.6% to $10.9 billion in Oct-Dec 2024

New Delhi: Foreign direct investment (FDI) in India dipped by 5.6 per cent year-on-year to $10.9 billion in October-December quarter of this fiscal due to global economic uncertainties, according to the government data.

FDI inflows during October-December 2023-24 stood at $11.55 billion.

According to the Department for Promotion of Industry and Internal Trade (DPIIT) data, in the July-September quarter of the current fiscal, the inflows were up by about 43 per cent year-on-year to $13.6 billion and had increased 47.8 per cent annually to $16.17 billion in the preceding April-June quarter.

Cumulatively, during the April-December 2024-25, the inflows registered a growth of 27 per cent to # 40.67 billion as against $32 billion in the same period of 2023-24.

Total FDI, which includes equity inflows, reinvested earnings and other capital, grew by 21.3 per cent to $62.48 billion during the first nine months of this fiscal from $51.5 billion in April-December 2023-24.

During the April-December 2024-25, FDI equity inflows rose from major countries, including Singapore $12 billion against $7.44 billion), the US ($3.73 billion against $2.83 billion), the Netherlands ($4 billion against USD $billion), the UAE ($4.14 billion against $2.43 billion), Cayman Islands ($296 million against $215 million) and Cyprus ($1.18 billion against $796 million).

However, inflows declined from Mauritius, Japan, the UK, and Germany.

Sectorally, inflows rose in services, computer software and hardware, trading, telecommunication, automobile, and chemicals.

FDI in services has increased to $7.22 billion during the first nine months of the current financial year as against $5.18 billion in the same period last year.

As per the data, FDI inflows in non-conventional energy stood at $3.5 billion.

The data also showed that Maharashtra received the highest inflow of #16.65 billion during April-December 2024-25. It was followed by Karnataka (#4.5 billion), and Gujarat (about $5.56 billion).