India's August FDI jumps 67.7% to $11 billion, officials say
Business
India just saw a massive 67.7% jump in foreign direct investment (FDI) this August, bringing in $11 billion, a big shift from last year's outflow.
Officials are feeling upbeat and expect FDI to cross $100 billion this fiscal year.
Between April and August, total FDI hit over $55 billion, with net inflows up by 68% to $19 billion.
India equity inflows nearly $7.5 billion
Most of the boost came from equity investments, which nearly doubled to nearly $7.5 billion.
During the first quarter, services accounted for 36% of the inflows, followed by 14% in computer hardware and software.