The net Foreign Direct Investment (FDI) in the country stood at $271 million in May 2024, up 74 percent over the FDI of $156 million in the same month of FY23.
In May 2024, foreign direct investment inflows stood at $339 million, up 66 percent over inflows of $204 million in May 2023. While outflows in May 2024 stood at $68 million, up 42 percent compared to outflows of $48 million in May 2023.
Net FDI inflows during the eleven months of the current fiscal year (11MFY24) stood at $1.729 billion, up 15 percent compared to FDI inflows of $1.505 billion reported in 11MFY23.
In 11MFY24, the highest FDI inflows of $521 million were received from China, followed by Hong Kong at $322 million, the United Kingdom at $244 million, the United States at $128 million and the UAE making the top five with inflows of $84 million.
The power sector was the major recipient of FDI, attracting inflows of $742 million, followed by oil and gas exploration at $277 million, financial business at $188 million, and petroleum refining at $86 million.
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