FDI inflow increases to $2.05 billion in June
Foreign Direct Investment in India went up by 6.5% to $2.5 billion in June this year as compared to the same period last year when the FDI inflow into the country was $1.92 billion. However, the June figures were lower than the previous two months this year. India had received $3.60 billion and $3.85 billion FDI in April and May respectively. According to the Department of Industrial Policy and Promotion (DIPP), the FDI inflow into the country during the April-June period this year stood at $9.50 billion, up by 31% as compared to $7.23 billion during the same period last year. During the period, Singapore was the largest source of FDI contributing $3.67 billion, followed by Mauritius, Netherlands and the US with shares of $2.08 billion, $652 million and $627 million respectively. India also received $554 million FDI from Germany, the DIPP data said. Japan and the UK were also among the top 10 sources of FDI in India. Sectors that attracted maximum foreign investment include computer software and hardware, automobile, trading, services and power. Software and hardware industry got the largest share of FDI worth $2.55 billion, while the automobile sector received $1.09 billion between April and June this year. The FDI inflow in trading was $897 million. India’s services sector drew $636 million of FDI and the power sector attracted $271 million during the period, the data said. The increased inflow of FDI indicates the level of trust among overseas investors in the country's economy. After the launch of Make in India initiative in September last year, the government has also liberalized FDI norms across sectors. In order to boost its trade infrastructure and competitiveness in the international market, India needs up to $1 trillion of foreign investment in the next five years.
August 21, 2015 | 2:15pm IST.
to success.