Sunday, Oct 26, 2014

FDI inflow up 1.5% at $2.18 bn in January

ENS Economic Bureau | New Delhi | Posted: March 21, 2014 2:47 am

The foreign direct investment (FDI) into the country during January grew only 1.5 per cent at $2.18 billion compared to $2.15 billion during the same period a year ago. 

According to the data released by the department of industrial policy and promotion, FDI inflow into the country during the April-January FY14 period declined by 2 per cent to $18.74 billion compared to $19.10 billion during the same period a year ago. During December, India received foreign direct investment worth $1.1 billion.

The maximum inflow was witnessed from Mauritius, having a share of 37 per cent of the total inflows.

FDI worth $4.11 billion flew into the country during the April-January period from Mauritius, followed by Singapore, the UK and the Netherlands. The services sector including banking, insurance and outsourcing witnessed the highest FDI at $1.80 billion followed by the pharma and automobiles.

India is estimated to require about $1 trillion between FY13 and FY17, the 12th Five-Year Plan period, to fund infrastructure projects.

In a bid to boost the dwindling FDI inflows, the government took series of steps last year to make the investment regime more investor-friendly. While in some cases, the commerce and industry ministry relaxed the sectoral caps, in others it took measures to simplify the norms.

Entry routes for sectors including petroleum and natural gas, commodity exchanges, power exchanges, and stock exchanges have been made automatic while it allowed 100 per cent FDI in the telecom sector.

comments powered by Disqus
Featured ad: Discount Shopping