New Delhi:
The flow of foreign direct investment in the Indian economy grew 26.4 percent year-on-year to $22.5 billion in the April-June quarter. This information has been given in the latest monthly bulletin of RBI. The report said that net FDI investment of $6.9 billion has come in the first quarter of FY 2024-25, which was $4.7 billion in the first quarter of FY 2023-24.
75 percent of the investment came from these countries
Manufacturing, financial services, communication services, computer services, electricity, energy and other sectors have received 80 percent of gross FDI inflow. RBI’s report states that 75 percent of FDI has come from Singapore, Mauritius, Netherlands, US and Belgium.
Export demand increased in nine of the top 10 countries
India received a net investment of $9.8 billion in FY 2023-24, up from $28 billion in the previous year and $38 billion in FY 2021-22. The report said that after declining in 2023-24, exports have seen growth so far in 2024-25. Excluding China, nine of the top 10 countries, which account for almost half of the total value of exports, are registering an increase in demand.
Exports of electronic and engineering goods increased
The report said that the weight of electronic and engineering goods is increasing in India’s export basket. At the same time, traditional exports like jewellery, textiles, garments, leather and marine products are losing competitiveness.
Apart from this, the report said that business services like support operations, engineering, research and design are rapidly becoming the powerhouse of India’s exports by overtaking IT and software.
India’s GDP growth rate will be 8.2 percent in 2023-24
India’s economy is growing at the fastest rate in the world. India’s GDP grew at the rate of 8.2 percent in the financial year 2023-24. It is estimated to grow at the rate of 7.2 percent in the financial year 2024-25.
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