According to data from
the commerce and Industry ministry, the US has become the second largest source
of Foreign Direct Investment (FDI) in India, replacing Mauritius, PTI reported.

During the months of
April to September of 2020, India has attracted $7.12 billion of investment
from the US, and $2 billion from Mauritius, which fell into the fourth position,
data from DPIIT (Department for Promotion of Industry and Internal Trade)
projected.

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During the same period
last year, Mauritius was the second biggest source of FDI, whereas US at the
time was the fourth biggest investor.

Singapore, with
$8.12 billion, continued to be the largest investor in terms of FDI during the
April-September period. Apart from this, Cayman Islands ($2.1 billion),
Netherlands ($1.5 billion), UK ($1.35 billion), France ($1.13 billion), Japan ($653
million), Germany ($202 millon), and Cyprus ($48 million) are the other key investors.

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PTI quoted Biswajit
Dhar, an economics professor at the Jawaharlal Nehru University as saying that “The
US technology companies are buying stakes in Indian companies that is why FDI
numbers are showing increase”.

Foreign investment
inflow to India grew by a margin of 15% to $30 billion in the first half of the
current fiscal. In August, India had acquired $17.5 billion worth of foreign
investments.