Millennium Post

India gets highest-ever FDI of $8.1 bn in March

With an eight-fold increase, India attracted foreign direct investment (FDI) of $8.1 billion in March, the highest ever monthly inflows, despite a brouhaha over Rs 11,000 crore Vodafone tax dispute.

Cumulative FDI inflows for the fiscal 2011-12 amounted to $36.50 billion, authoritative sources said.

In March 2011, the country received FDI worth $1.07 billion.

The $7.2 billion Reliance Industries-British Petroleum (BP) deal, announced in February 2011 contributed significantly to the inflows, even though funds from the UK oil major would have come in phases, they said. The BP had picked up a 30 per cent stake in Reliance Industries’ 21 oil-fields.

Earlier, highest FDI of $5.65 billion was received in June last year. Though the March data has been compiled by the Department of Industrial Policy and Promotion (DIPP), it is yet to be released officially.

The sectors which received large foreign FDI inflows during 2011-12 include services, pharmaceuticals, telecom, construction, power and metallurgical industries, a DIPP official said on Wednesday, adding Mauritius remained the top FDI source.
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