India received foreign direct investment (FDI) inflows of $38.9 billion in the first half of the current financial year, down 9.1% from the year-ago period.
The decline was an even sharper 14% on year in FDI equity inflows, which amounted to $26.9 billion between April-September 2022, according to data from the Department for Promotion of Industry and Internal Trade (DPIIT).
In rupee terms, the FDI equity inflows dipped by 9% to Rs 2.1 trillion in the period from Rs 2.29 trillion a year ago.
FDI equity inflows were also down by 6% year on year at $ 16.5 billion in the first quarter of the fiscal year. FDI includes equity inflows, reinvested earnings and other capital.
During the first half of the current fiscal year, Singapore was the top contributor to FDI equity inflows into the country with $10.02 billion of investments followed by Mauritius with $3.31 billion and the UAE with $2.95 billion.
Top sectors attracting the highest FDI equity inflows in the first half of the fiscal year include computer software and hardware ( $ 6.28 billion), services sector ( $ 4.16 billion) and trading ($ 3.28 billion).