FDI inflow grew in January 2014 by 1.5 percent: DIPP
The foreign direct investment (FDI) grew in January 2014 by 1.5 per cent to 2.18 billion US dollar compared to 2.15 billion US dollar in January 2013.
The foreign direct investment (FDI) grew in January 2014 by 1.5 per cent to 2.18 billion US dollar compared to 2.15 billion US dollar in January 2013. This was revealed by the data on FDI released by department of industrial policy and promotion (DIPP) on 20 March 2014.
However, during April 2013 to January 2014 FDI inflow declined by 2 per cent to 18.74 billion US dollar from 19.10 billion US dollar.
During the Financial Year 2013-14, the maximum FDI inflow was in September 2013 at 26351 crore rupees.
The maximum FDI inflow was witnessed from Mauritius during the Financial Year 2013-14. The share of Mauritius stood at 365887 crore rupees i.e.37 percent of the total inflows.
FDI worth 1010314 crore rupees were invested into the country during the April 2000 to January 2014 period. During this period maximum FDI inflows was from Mauritius, followed by Singapore, the UK and the Netherlands.
The services sector attracted the highest FDI inflow at 10680 crore rupees with 18 percent of the total share during the Financial Year 2013-14. Serviceswas followed by Infrastructure and Telecommunication sector.
Out of all the sectors, Hotel and Tourism showed the least share at 3 percent with 2306 crore rupees.
As per the DIPP data financial year wise FDI inflows were maximum in 2011-12. In 2011-12 the FDI inflows was 165146 crore rupees.
In a bid to boost the dwindling FDI inflows, the government took series of steps in 2013 to make the investment regime more investor-friendly. While in some cases, the commerce and industry ministry relaxed the sectoral caps, in others it took measures to simplify the norms.
Entry routes for sectors including petroleum and natural gas, commodity exchanges, power exchanges, and stock exchanges have been made automatic while it allowed 100 per cent FDI in the telecom sector.