New Delhi: Foreign direct investment (FDI) inflows into the country contracted 37% to $1.9 billion in October from the year-ago period after rising 154% in September this year.
In the first seven months (April-October) of the current financial year, FDI inflows contracted 42% to $14.8 billion. In the April-October period, they fell 32% to $6.7 billion from Mauritius, India’s top FDI source. They dropped 76.3% to $1.2 billion from Singapore, the second-largest source. From the top 10 FDI sources, inflows fell 58% to $14.8 billion.
While services sector continued to attract the highest FDI inflows with $3.6 billion in the April-October period, the hotel and tourism sector emerged as a close second, attracting $3.1 billion.