Exploring the Growth of India’s Foreign Direct Investment Equity Inflow amid COVID-19 Outbreak

Ifeanyi Mbukanma and Ravinder Rena

Chapter 8 in India's Technology-Led Development:Managing Transitions to a Digital Future, 2023, pp 149-162 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The COVID-19 pandemic has spread at an alarming pace, infecting millions and bringing several global economic activities to a halt, as various countries have tightened regulations and steps to monitor and control the spread of the virus. In this context, this study was conducted to explore the growth of India’s Foreign Direct Investment (FDI) equity inflow amid the COVID-19 outbreak. This was based on the fact that previous studies found FDI as an engine that creates opportunities for employment development, increases productivity, increases domestic economic stability through introducing expertise and technologies, strengthened infrastructure, boosts exports, and contributes to long-term economic growth in countries around the world.To achieve this objective, an in-depth review of current and previous literature from journals and periodic publications of legitimate organizations, both local and international, on the evolution and the trend of the COVID-19 pandemic and its impact on India’s FDI was conducted. However, the findings revealed a significant drop in net FDI flows globally, but a sustained growth and significant increase in India. Secondly, key sectors such as services, computer software and hardware, telecommunications, trading, automobile, construction development, chemicals and pharmaceuticals were revealed to have attracted the maximum FDI inflow to India amid the COVID-19 pandemic. Therefore, it was recommended that a cohesive policy that further strengthens FDI by identifying and creating incentives for other main industrial sectors could further promote the continued attractiveness of FDI to India.

Keywords: Management in India; Metaphysical Perspective; Change Management; Diversity; Equity and Inclusion; Sustainability; Economic Models; Culture; History; Archeology; Technological Growth; Globalization; Nationalization; Localization; Corporatization; Civilizational; Stakeholder; Knowledge Partnership; Strategic Development; Eastern Perspective; Indian Approach; Intellectual Property Rights; Rural-Urban Dynamics (search for similar items in EconPapers)
JEL-codes: M1 O31 O32 O33 O34 (search for similar items in EconPapers)
Date: 2023
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