FDI up 13% at $16.63 billion in first half of current fiscal

A major chunk of the FDI came from Singapore which overtook Mauritius to become the top foreign investor in the Indian market The Dollar Business Bureau

During the current financial year, the highest FDI inflow was recorded in May at $3.85 billion, followed by April at a little over $3.60 billion and September at over $2.9 billion.

Various steps taken by the government to ease the business process seem to have begun showing results with increased inflow of foreign direct investment (FDI). The FDI inflow in the country has increased by 13% to reach $16.63 billion in the first half of the current financial year, according to the latest data released by the Department of Industrial Policy and Promotion (DIPP). The total inflow during April-September period of the last fiscal was $14.69 billion. In the current financial year, the highest FDI inflow was recorded in May at $3.85 billion, followed by April at a little over $3.60 billion and September at over $2.9 billion. During the calendar year 2015, FDI inflow was highest in January at $4.48 billion and minimum was in July at over $2 billion. Total FDI inflow (equity inflows, re-invested earnings and other capital) during the second quarter of 2015-16 amounted to $10.17 billion. Services sector continued to dominate, drawing maximum 17% share of FDI, followed by construction development, computer software & hardware, and telecommunication sectors. A major chunk of the FDI came from Singapore which overtook Mauritius to become the top foreign investor in the Indian market. FDI inflows from Singapore were $6.69 billion, while Mauritius contributed $3.67 billion during April-September 2015-16. Other major economies including the UK, Japan, the Netherland, the USA and Germany were among the top 10 FDI contributors. The Narendra Modi-led government had last month eased norms for overseas investors in as many as 15 key sectors, including defence, construction, single-brand retail and civil aviation among others, and also approved FDI proposals worth Rs.1,810 crore. Besides, the government has launched several initiatives like ‘Make in India’ and ‘Digital India’ to encourage foreign investors to do business in the country.

December 03, 2015 | 12:15pm IST

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The Dollar Business Bureau - Dec 03, 2015 06:48 IST

FDI up 13% at $16.63 billion in first half of current fiscal

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