$24.3 billion rise in FY’14- FDI on a roll
In the first quarter of 2013-14, FDI or Foreign Direct Investment into the country saw a rise by eight percent, which amounted to USD 24.3 billion, says a source from the esteemed Department of Industrial Policy and Promotion (DIPP).
The last fiscal of 2012-13 the aggregated details came up to USD 22.4 billion, and in the month of March 2014, FDI inflows were on the double, around USD 3.53 billion, a giant leap from what was seen in March 2013 at the same time, when it as only USD 1.52 billion.
Where did such high FDI’s come from?
- Services brought in USD 2.22 billion
- Automobiles brought in USD 1.51 billion
- Telecommunications brought in USD 1.3 billion
- Pharmaceuticals brought in USD 1.27 billion and
- Construction development brought in USD 1.22 billion) in 2013-14
The leading contributors to such high FDI inflows into the country were;
- Singapore with USD 5.98 billion
- Mauritius with USD 4.85 billion
- UK with USD 3.21 billion
- Netherlands with USD 2.27 billion respectively
What the country now needs is to have stabilised foreign investment to come back on its feet and grow. For the past decade the outgoing government did nothing much to raise the bar, and all hopes are on the incoming government this time.
Source: The Financial Express
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