According to UNCTAD’s World Investment Report 2019, Foreign Direct Investment (FDI) into India increased by 6% to $42 billion in 2018 with strong inflows in manufacturing, communication, financial services and cross-border merger and acquisition activities making it the sub-region’s largest recipient. As per report, India has been ranked 10th amongst the top recipients of FDI in 2018. The report added that India has historically accounted for 70 to 80% of inflows to the sub-region. Further, the growth in cross-border Merger & Acquisitions for India to 33 billion dollars in 2018 was primarily due to transactions worth 16 billion dollars in retail trade, which includes e-commerce, and telecommunication.