FDI Inflows Into India In May Rose To $12.1 Billion, Shares Piyush Goyal

Union Minister Piyush Goyal yesterday (23 August) shared that the FDI inflows into the country is on the rise and that the bygone month of May alone saw inflows of $12.1 billion, reports Economic Times.

Addressing a meeting of different industry associations on promoting exports, Goyal shared, "India has received the highest ever FDI inflow in 2020-21. It surged by 10 per cent to $81.72 billion and FDI during May 2021 is $12.1 billion, i.e. 203 per cent higher than May 2020."

Goyal also said that the Government is working on a mission mode to achieve exports of $400 billion in 2021-22 and that the exports are recording healthy growth. He further shared that from 1-14 August, the outbound shipments grew 71 per cent over the same period in 2020-21 and 23 per cent in 2019-20.

Goyal also exhorted the industry to do more and said, "It is time for our industry to expand our capacity, capability and commitment to develop resilient global supply chains." He added that the Centre expects that the Indian industry should suggest areas for intervention through research, handholding of exporters/manufacturers, and deeper engagement with states and Missions.