Foreign direct investments rise to $12.1 Billion in May
According to Commerce and Industry Minister Piyush Goyal, foreign direct investments into India are increasing, reaching USD 12.1 billion in May this year.
“In 2020-21, India received the most significant amount of FDI it has ever received. It increased by 10% to USD 81.72 billion, with FDI totaling USD 12.1 billion in May 2021, which is 203 percent greater than May 2020. “He said this while speaking to a group of industrial organizations about increasing exports.
According to the minister, India’s average applied import tariff (tax) has fallen to 15% in 2020 from 17.6% in 2019. The country’s applicable surcharges are well below the 50.8 percent bound rate (permissible limit under the World Trade Organization).