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India attracts US$22.5 billion in overseas direct funding in April to June 2021: Authorities

NEW DELHI: India attracted overseas direct funding (FDI) inflows of US$22.53 billion throughout the first three months of the fiscal yr beginning on Apr 1, 90 per cent greater than the April-June interval final yr, the federal government stated on Saturday (Aug 28).

India’s vehicle trade accounted for 27 per cent of the overall FDI fairness influx, rising because the brightest sector in Asia’s third-largest financial system, adopted by pc software program and {hardware} and the companies sectors which accounted for 17 per cent and 11 per cent of the inflows respectively, the commerce ministry stated in an announcement.

“Measures taken by the Authorities on the fronts of FDI coverage reforms, funding facilitation and ease of doing enterprise have resulted in elevated FDI inflows into the nation,” the assertion added.

Prime Minister Narendra Modi’s administration has minimize company tax charges to woo producers and revive non-public funding, launched new farm legal guidelines and handed labour reforms aimed toward making hiring and firing employees simpler.

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