Millennium Post

FDI inflows rise 12% to $1.65 billion in July

Foreign Direct Investment (FDI) into India grew by 12 per cent year-on-year to $1.65 billion in July, highest since April.
In July 2012, the country had received FDI worth $1.47 billion.

In April, the first month of the current financial year, the inflows stood at $2.32 billion, according to the data of the Department of Industrial Policy and Promotion (DIPP).

During the April-July period, FDI has grown by 20 per cent to $7.05 billion, from $5.90 billion in the same period last fiscal, the data said.
The sectors that received large inflows during the first four months of the 2013-14 fiscal include services ($1.02 billion), pharmaceuticals ($1 billion), automobile industry ($637 million) and construction ($359 million).
The maximum FDI during the period came from Singapore ($2.21 billion), followed by Mauritius ($1.85 billion), the Netherlands ($520 million), Germany ($518 million), and the US ($371 million).

A DIPP official said that the recent steps announced by the government would further help in attracting FDI inflows and improving the investment environment.

The government has liberalised FDI policy in as many as 12 sectors which include telecom, tea and petroleum and natural gas.'

FDI inflows in 2012-13 aggregated $22.42 billion, a decline from $36.50 billion in 2011-12. India is estimated to require about $1 trillion between 2012-13 and 2016-17, the 12th Five Year Plan period, to fund infrastructure growth covering sectors such as ports, airports and highways.
Overall, an increase in FDI will help support the rupee, which depreciated to a record low of 68.8 against the US dollar on 28 August. It has strengthened since then to the 63-per-dollar level.
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