Even before S&P Global Ratings upgraded its rating on India and the government announced a raft of measures to boost the economy, Foreign Direct Investment (FDI) into the country had risen to the highest in over four years in July, according to data released by the Reserve Bank of India (RBI) on Wednesday. At $11.11 billion, the gross FDI inflow in July was the highest since May 2021, when $12.32 billion had come into the country on a gross basis.

In June, gross FDI inflows into India stood at $9.57 billion, while the figure for July 2024, at $5.54 billion, was half the latest number.

“Singapore, followed by the Netherlands, Mauritius, the US and the UAE, together accounted for more than three-fourth of total inflows. Manufacturing and services including communication, computer and busin

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