FDI Inflows Increased to $350 Crores in July

FDI Inflows Increased to $350 Crores in July

  11:16    Unknown

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 Neeraj Bhanot 

(Editor DERIK TIMES)

Foreign direct investment (FDI) flows into India increased to $350 Crores  in July,

In July 2013, the country had received FDI worth $165 Crores . During April-July this fiscal year, foreign inflows grew 52 per cent to $1073 Crores as compared to $705 Crores in the same period last year.

Amongst the top 10 sectors, telecommunications received the maximum FDI at $233 Crores, followed by services ($100 Crores), pharmaceuticals ($88.60 Crores) and construction ($4.30 Crores) during the first-four months of the fiscal year. During the period, India received the maximum FDI from Mauritius at $338 Crores, followed by Singapore ($166 Crores), Netherlands ($149 Crores), Japan ($8.34 Crores), UK ($8.24 Crores) and the US ($3.51Crores).

In 2013-14, FDI inflows in India were $2429 Crores as against $2242 Crores in 2012-13.India requires around $100000 Crores in the next five years to overhaul its infrastructure sector, including ports, airports and highways to boost growth. The government has raised the foreign investment limit to 49 per cent in defence manufacturing and relaxed the policy in construction sector.

It has been also proposed to increase the FDI cap in insurance to 49 per cent.