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.

He also stated that the administration is working on a mission to accomplish a USD 400 billion export target in 2021-22.

“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).