India among top 10 FDI recipients, attracts $49 bn inflows in 2019: UN report
India was among the top 10 recipients of Foreign Direct Investment in 2019, attracting USD 49 billion in inflows, a 16 per cent increase from the previous year, driving the FDI growth in South Asia, according to a UN report released on Monday.
The Global Investment Trend Monitor report compiled by United Nations Conference on Trade and Development (UNCTAD) states that the global foreign direct investment remained flat in 2019 at USD 1.39 trillion, a 1 per cent decline from a revised USD 1.41 trillion in 2018. This is against the backdrop of weaker macroeconomic performance and policy uncertainty for investors, including trade tensions, it said.
Developing economies continue to absorb more than half of global FDI flows. South Asia recorded a 10 per cent increase in FDI to USD 60 billion and “this growth was driven by India, with a 16 per cent increase in inflows to an estimated USD 49 billion. The majority went into services industries, including information technology,” the report said.
India attracted an estimated 49 billion dollars of FDI in 2019, a 16 per cent increase from the 42 billion dollars recorded in 2018, it said. The FDI flows to developed countries remained at a historically low level, decreasing by a further 6 per cent to an estimated USD 643 billion.
The FDI to the European Union (EU) fell by 15 per cent to USD 305 billion, while there was zero-growth of flows to United States, which received USD 251 billion FDI in 2019, as compared to USD 254 billion in 2018, the report said.