FDI increased into India to 2.32 Billion US Dollars in April 2013
FDI into India increased 25 percent year-on-year to 2.32 billion US dollars in April 2013.
As per the data released from the Department of Industrial Policy and Promotion (DIPP) on 15 July 2013, Foreign Direct Investment (FDI) into India increased 25 percent year-on-year to 2.32 billion US dollars in April 2013, the highest level in the past six months. In April 2012, the country had received FDI worth USD 1.85 billion US dollars, according to data from the Department of Industrial Policy and Promotion (DIPP).
In September, 2012, foreign inflows were 4.67 billion US dollars. The sectors that received large FDI inflows during the month include hotel and tourism (2.32 billion US dollars), pharmaceuticals (987 million US dollars), services (238 million US dollars), chemicals (51 million US dollars) and construction (32 million US dollars), according to the data.The most FDI in April came from Singapore (1.29 billion US dollars), followed by Mauritius (355 million US dollars), the Netherlands (173 million US dollars) and the US (149 million US dollars). The steps taken by the government are helping to boost FDI flows. Since September 2012, several reform initiatives have been taken, including liberalizing FDI norms in civil aviation, retail and power exchanges.
FDI inflows in 2012-13 aggregated 22.42 billion US dollars, a decline from 36.50 billion US dollars in 2011-12. Following the decisions taken in September 2012, the government is also expected to further liberalise the FDI regime in sectors such as telecom and defence. The finance ministry has proposed changes in FDI caps for sectors, including tea, media, petroleum and natural gas.
India needs about 1 trillion US dollars from 2012-13 to 2016-17 to fund infrastructure such as ports, airports and highways to boost growth. An increase in FDI will help support the rupee, which depreciated to a record low of 61.21 against the US dollar on 8 July 2013.