Foreign direct investment (FDI) into India declined by 22 per cent to USD 46 billion in 2022-23, dragged by lower inflows in computer hardware and software, and automobile industry, according to the Department for Promotion of Industry and Internal Trade (DPIIT) data.
The FDI inflows stood at USD 58.77 billion during 2021-22.
Total FDI inflows, which include equity inflows, re-invested earnings and other capital, declined by 16 per cent to USD 70.97 billion in the last fiscal as against USD 84.83 billion in 2021-22.
During April-March 2022-23, Singapore emerged as the top investor with USD 17.2 billion FDI.
It was followed by Mauritius (USD 6.13 billion), the US (USD 6 billion), the UAE (USD 3.35 billion), the Netherlands (USD 2.5 billion), Japan (USD 1.8 billion), UK (USD 1.73 billion), Cyprus (USD 1.27 billion), Cayman island (USD 772 million), and Germany (USD 547 million), the data showed.
The FDI inflows have contracted in 2022-23 from Mauritius, the US, the Netherlands, the
