Mfg FDI up 69% to $169bn in 10 yrs

New Delhi: Foreign direct investment (FDI) inflows in the manufacturing sector during 2014-24 rose by 69 per cent to $165.1 billion, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Minister of State (MoS) for Commerce and Industry Jitin Prasada said that “India is rapidly emerging as a preferred country for foreign investment in the manufacturing sector. FDI equity inflow in the manufacturing sectors in the last ten financial years (2014-24) has increased by 69 per cent to $165.1 billion as compared to $97.7 billion in the previous ten financial years (2004-14).”

He also said that the total FDI inflow of $383.50 billion has been reported in the country during the past five financial years (2019-20 to 2023-24). Replying to a separate question, he said that the initiatives taken by the Government have led to a decline in dependency on imports in several sectors including mobiles.