FDI up 27% at $ 27.82 billion in Apr-Oct this fiscal

Foreign direct investment (FDI) into the country grew by over 27 per cent to $27.82 billion during April-October this fiscal.

The FDI stood at $21.87 billion in April-October 2015-2016, according to the Department of Industrial Policy and Promotion (DIPP).

The main sectors which have attracted the foreign inflows include services, telecom, trading, computer hardware and software and automobile.

India receives maximum FDI from Singapore, Mauritius, the Netherlands and Japan.

The inflows increased by 23 per cent to $55.6 billion in the last financial year.

Foreign direct investments are considered very crucial for India, which needs around $1 trillion for overhauling its infrastructure sector such as ports, airports and highways to boost growth.