India's FDI rises 40% in April-December 2020; Covid-19 total now at 11,173,761

An Indian Navy personnel gets inoculated with a Covid-19 coronavirus vaccine at the INS Angre naval base in Mumbai on Friday, March 5, 2021. - AFP

NEW DELHI, March 5 (Xinhua): India's foreign direct investment (FDI) grew 40 per cent to US$51.47 billion during April-December 2020-21 financial year, according to official data that has been released.

"India has attracted total FDI inflow ofUS$ 67.54 billion during April to December 2020. It is the highest ever for the first ninth months of a financial year and 22 percent higher as compared to the first ninth months of 2019-20 (US$55.14 billion)," the ministry of commerce and industry said in a statement.

"FDI equity inflow grew by 40 percent in the first nine months of financial year 2020-21 (US$51.47 billion) compared to the year ago period (US$36.77 billion)."

According to the ministry, the FDI inflow increased by 37 percent in third quarter of 2020-21 (US$26.16 billion) compared to third quarter of 2019-20 (US$19.09 billion).

"FDI inflow showed positive growth of 24 percent in the month of December 2020 (US$9.22 billion) compared to December 2019 (US$7.46 billion).

Officials said FDI is a major driver of economic growth and an important source of non-debt finance for the economic development of India.

"It has been the endeavor of the government to put in place an enabling and investor friendly FDI policy. The intent all this while has been to make the FDI policy more investor friendly and remove the policy bottlenecks that have been hindering the investment inflows into the country," the ministry said.

Meanwhile, India's Covid-19 tally rose to 11,173,761 on Friday as 16,838 new cases were registered during the past 24 hours, said the latest data from the federal health ministry.

According to the official data, the death toll mounted to 157,548 as 113 Covid-19 patients died since Thursday morning.

There are still 176,319 active cases in the country, while 10,839,894 people have been discharged so far from hospitals after medical treatment.

The phase 2 of the ongoing Covid-19 vaccine drive began in the country on Monday with Prime Minister Narendra Modi taking his first dose of Covid-19 vaccine - Covaxin, manufactured by Bharat Biotech company.

The phase 2 of the vaccination drive would inoculate those above the age of 60 and those over 45 with comorbidities. - Xinhua
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India , FDI , Growig , Stronger , Covid-19 , Above 11.17 million


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