Foreign direct investments into the country more than doubled to $20.42 billion during the April-July period of the current fiscal, the commerce and industry ministry said on Wednesday.
Total Foreign Direct Investment (FDI) inflow rose to $27.37 billion during the first four months of 2021-22. In the year-ago period, the same was at $16.92 billion.
Total FDI comprises equity inflows, reinvested earnings and other capital.
"FDI equity inflows grew by 112 per cent in the first four months of 2021-22 ($20.42 billion) compared to the year ago period ($9.61 billion)," the ministry said in a release.
Automobile industry has emerged as the top sector during the period under review, accounting for 23 per cent share of the total FDI equity inflows followed by computer software & hardware (18 per cent) and services sector (10 per cent), respectively.
Karnataka is the top recipient state with 45 per cent share of the total FDI equity inflows followed by Maharashtra (23 per cent) and Delhi (12 per cent).
"Measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country," the ministry said.