The Foreign Direct Investment (FDI) inflow to Andhra Pradesh has registered a quantum leap from $85.85 million in 2020-21 to $224.96 million and $284.22 million in 2021-22 and 2022-23 respectively, according to Union Minister of State for Industry and Commerce Som Parkash.
The Union Minister was replying to a question asked by TDP member Kanakamedala Ravindra Kumar in the Rajya Sabha (RS) on July 21.
The FDI that had come in from October 2019 to March 2020 amounted to $200.97 million.
Mr. Som Parkash stated that the FDIs included equity inflow, equity capital of unincorporated bodies, and reinvested earnings and other capital.
The Ministry keeps a record of only the equity component of the FDI inflow to various States, and the above data pertains to that particular component.
Andhra Pradesh FDI inflow in FY 2022-23 was an all-time high, and the dip in 2020-21 could probably be due to the impact of coronavirus pandemic.
‘TDP’s false propaganda’
Citing the data, YSR Congress Party member V. Vijaya Sai Reddy said in a message on the Twitter that the TDP’s false propaganda that the State had lost heavily on the FDI front backfired, and sought to know if the pro-TDP media would show the same.
