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FDI Jumps 37% to $10.4 Billion During Apr-June 2017

Representative image (REUTERS)

Representative image (REUTERS)

According to the figures of the Department of Industrial Policy and Promotion (DIPP), India had received $ 7.59 billion FDI during April-June 2016-17.

New Delhi: Foreign direct investment (FDI) into the country grew by 37 percent to $ 10.4 billion during the first quarter of the current fiscal, DIPP said on Monday.

According to the figures of the Department of Industrial Policy and Promotion (DIPP), India had received $ 7.59 billion FDI during April-June 2016-17.

The main sectors which attracted the highest foreign inflows include services, telecom, trading, computer hardware and software and automobile. Bulk of the FDI came in from Singapore, Mauritius, the Netherlands and Japan.

The government has announced several steps to attract foreign inflows.

The measures include liberalisation of FDI policy and improvement in business climate.

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

A strong inflow of foreign investments will help improve the countrys balance of payments situation and strengthen the rupee value against other global currencies, especially the US dollar.

The DIPP through its 'Make in India' twitter handle also stated that FDI equity inflow in manufacturing sector grew by 31 percent to $ 4.19 billion during April-June this fiscal.

FDI equity inflow in glass, Leather cement & gypsum products, sea transport, air transport, construction development, mining, sugar and medical & surgical appliances recorded five fold jump during the quarter.

It added that since the launch of 'Make in India' initiative (October 2014 - June this year), foreign inflows jumped 64 percent to $ 110.12 billion from $67.26 billion in the same period last year.

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