By: Varun Kumar
August 6 2021
False: India attracted more FDI than other countries during the pandemic.
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The Verdict False
India was the fifth-largest recipient of Foreign Direct Investment (FDI) in 2020 as the coronavirus outbreak spread across the world.
Claim ID 412628fd
India was the fifth-largest recipient of Foreign Direct Investment (FDI) in 2020 as the coronavirus outbreak spread across the world.According to the UN Conference on Trade and Development's (UNCTAD) World Investment Report 2021, India was the world's fifth-largest recipient of Foreign Direct Investment (FDI) inflows in 2020. It received $64 billion FDI in 2020, which is an increase of 27 percent compared to 2019; with $51 billion in FDI. It was the ninth-largest recipient in 2019. In India, FDI inflows were boosted by substantial investment in Information and Communications Technology (ICT) and construction. Cross-border mergers and acquisitions increased by 83 percent to $27 billion, with significant agreements involving ICT, health, infrastructure, and energy. Furthermore, the United States remained the largest recipient of FDI, despite a 40 percent decrease in FDI inflows to $156 billion in 2020, and China stands as the second-largest recipient with $149 billion.