FDI Inflows in India: Karnataka Sees 300% Jump, Tamil Nadu Rebounds; Gujarat, Maharashtra and Andhra Pradesh Witness Drop

Bengaluru, July 24: Karnataka has seen the biggest increase in Foreign Direct Investment (FDI) last year after inflows from overseas jumped 300% in the 12 months that ended in March 2018. A data from the Reserve Bank of India (RBI) presented in Parliament informed that Tamil Nadu too saw a rebound reversing a slowdown, while Gujarat, Maharashtra and Andhra Pradesh all saw a drop in FDI inflows during the last year. It must be noted that the data from the Chennai Regional Office of the RBI, covers Tamil Nadu and Puducherry.

According to the RBI data, Karnataka received $8.58 billion in 2017-18 while Tamil Nadu netted $3.47 billion. In Karnataka, a sharp increase was reported from the $2.13 billion in the previous fiscal while in Tamil Nadu, a 56% increase was reported from the $2.22 billion in the prior period.

According to a report by The Hindu, the investment had halved in 2016-17 from the previous 12 months ($4.53 billion) in an election year. According to details by Minister of State for Commerce and Industry C.R. Chaudhary in Lok Sabha on Monday, Maharashtra, Gujarat and Andhra Pradesh has seen a considerable dip in FDI inflows. Meanwhile, the RBI data from the Mumbai office of RBI, which covers Maharashtra, Dadra and Nagar Haveli, Daman and Diu, show inflows dropped to $13.4 billion in 2017/18 from $19.7 billion. FDI inflows into Gujarat fell almost 38% to $2.09 billion in 2017-18, from $3.37 billion.

(The above story first appeared on LatestLY on Jul 24, 2018 09:08 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).