Defying the Covid-induced disruptions, foreign direct investment (FDI) in equities in India surged 40% in the first three quarters of this fiscal to a record $51.5 billion. Gross FDI inflows — which include FDI in equities, reinvested earnings, equity capital of unincorporated bodies and other capital — rose 22% year-on-year to as much as $67.5 billion between April and December 2020, showed the data released by the commerce and industry ministry on Thursday. Total inflows in December alone jumped 24% from a year earlier to $9.2 billion. Inflows were boosted by those into the digital sector. Analysts have pointed out that a sizable chunk of these was drawn by Reliance Jio alone.