Karnataka has ranked second in India for Foreign Direct Investment (FDI) inflows during April-September 2024, observed M.B. Patil, Minister for Large and Medium Industries, Government of Karnataka. According to the Department for Promotion of Industry and Internal Trade (DPIIT), the State attracted $3.54 billion or ₹29,597 crore in FDI during this period.

M.B. Patil wrote on X, “Karnataka has emerged as a frontrunner in economic growth, securing the second position in India for FDI inflows during April-September 2024, with $3.54 billion. Maharashtra tops the list with $13.55 billion, while Telangana ranks third with $1.54 billion. This achievement highlights the strategic and investor-friendly policies of the Congress-led Karnataka Government, reflecting its commitment and foresight in driving economic development.

Karnataka’s growing appeal in key sectors like IT, services, and telecom reinforces its position as a hub for global investment, he added.

DPIIT data shows that between October 2019 and September 2024, Karnataka had a 20.79 per cent share of all the FDI Equity inflow in the country, ranking only behind Maharashtra with a 31.48 per cent share. Gujarat came third with a 16.44 per cent share.

During the period, Karnataka recorded over ₹4,19,080 crore or $54 billion of FDI Equity inflow. According to DPIIT, the cumulative FDI inflow, including equity inflow in the country between April 2000 and September 2024 was over $1.03 trillion.

The overall FDI equity inflow during April-September 2024 was over $29 billion or ₹2,49,032 crore and grew 45 per cent from the previous year. Among the top investing countries by FDI equity inflow were Mauritius with a 25 per cent share, Singapore at 24 per cent and the US at 10 per cent.

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