Gujarat sees 55% upsurge in FDI inflows in FY 2023-24

According to data released by the Department for Promotion of Industry and Internal Trade (DPIIT) under the ministry, Gujarat recorded a 55 percent ($2.6 billion) increase in FDI inflows during FY 2023-24 compared to FY 2022-23.

It received $7.3 billion in FY 2023-24 compared to $4.7 billion in FY 2022-23. With FDI inflow of $7.3 billion, Gujarat reached the second position in the country, surpassing Karnataka and Delhi.

Gujarat has improved in attracting FDI for 3 successive financial years by securing investments of $2.7 billion in FY2022, $4.7 billion in FY2023 and $7.3 billion in FY2024.

Speaking about Gujarat’s performance in attracting FDI inflows, Gujarat Industries and Mines Minister Balwantsingh Rajput said, “Under the guidance of Prime Minister Narendra Modi, Chief Minister Bhupendrabhai Patel is ensuring that investment and trade are facilitated. Every possible arrangement is in place. From cutting-edge industrial communications to business-friendly government policies. Due to the dedicated efforts of the Prime Minister and Chief Minister, Gujarat is also attracting significant investments in emerging industries such as semiconductors and other promising sectors”.

With whole FDI inflow of $15.1 billion in 2024, Maharashtra tops the chart followed by Gujarat with $7.3 billion. Karnataka stood 3rd, Delhi 4th and Telangana 5th with FDI inflows of $6.6 billion, $6.5 billion and $3 billion respectively.