FDI zooms 34 percent to USD 1.92 bn in June

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SME Times News Bureau | 22 Aug, 2014
The inflow of foreign direct investment (FDI) zoomed 34 percent to USD 1.92 billion in June, according to official data released by the Department of Industrial Policy and Promotion.

The country had received FDI worth USD 1.44 billion in June 2013.

During April-June 2014-15, the foreign inflows recorded a 34 percent growth. During the period, FDI was at $7.23 billion compared to USD 5.39 billion in the like period of the previous year.

During the April-June period in the current fiscal, the country received maximum FDI from Mauritius at USD 2.61 billion, followed by Singapore (USD 1.18 billion), Britain (USD 567 million), Japan (USD 695 million) and the US (USD 249 million).

Telecommunications received the highest FDI in the April-June period followed by services, pharmaceuticals and construction sectors.

FDI inflows in India were USD 24.29 billion in 2013-14 against USD 22.42 billion in 2012-13.

The Bharatiya Janata Party-led government is going all out to boost FDI inflow in the country. It has raised FDI limit in defence manufacturing, it also cleared the long-delayed 100 percent FDI in railways and a debate is on regarding 100 percent FDI in the insurance sector.

In May this year, the FDI figure (USD 3.60 billion) was the highest since September 2013 when the country received USD 4.13 billion FDI.