On Sunday, Department for Promotion of Industry and Internal Trade (DPIIT) report shows Foreign Direct Investment (FDI) in computer software and hardware rose four times to USD 24.4 billion from April – December 2020-21.
Whereas, a year ago the sector gained USD 6.4 billion FDI. Digitalization has increased the use of artificial intelligence in the pandemic. So the opportunities for the computing sector arose as well.
According to a report, there is an increase in FDI as electronic and digital goods are transforming the world.
The sectors that have been growing in foreign inflows are- infrastructure and pharmaceutical.
FDI in the telecommunication business has also increased to USD 357 million from USD 4.3 billion. However, the high-end technology used in lockdown had focused on the global investment in IT sectors.