FDI in computer software, hardware jumps 4-folds to $24.4 billion during Apr-Dec 2020

Foreign direct investments (FDI) in the computer software and hardware sector jumped nearly four-times to USD 24.4 billion during April-December 2020-21, according to the latest data of DPIIT.

While in the year-ago period the sector received $6.4 billion FDI, the entire 2019-20 saw overseas investment of $7.7 billion, the Department for Promotion of Industry and Internal Trade (DPIIT) data showed.

According to experts, the accelerated digitalisation and increased use of artificial intelligence due to the pandemic led work-from-home scenario have all resulted in a huge opportunity for the computer software and hardware sector.

“There has been extensive unlocking of value, and we have seen huge FDI into this sector,” Arvind Sharma, Partner, Shardul Amarchand Mangaldas & Co said.