FDI in 2013 decreases by 3% to $22b
As per the data by Department of Industrial Policy and Promotion (DIPP) in 2012, India collected $22.78 billion of FDI.
Services, pharmaceuticals, automobiles, construction development, telecommunications, computer software and hardware, chemicals and power were the sectors that attracted foreign investment in 2013. The countries which invested in India consist of Mauritius, Singapore, UK, Netherlands, Japan, Germany, France and UAE. The largest retailer of UK Tesco, Singapore Airlines and Etihad are lined up to invest in India as the government of India opens more sectors for FDI investment. The government gives relaxation in FDI rules in more than 12 sectors like telecom, defence, PSU oil refineries, commodity bourses, power exchanges and stock exchanges. The UK Tesco group submitted its proposal to initially invest $110 million in opening of supermarket chain with Tata Group’s Trent.
India is estimated to require nearly $1 trillion between 2012-13 and 2016-17 to support the infrastructure growth in sectors like ports, airports and highways. A decrease in FDI will hurt the value of Indian currency, which had a low value of 68.85 against the US dollar on August 28 last year.
Source: mydigitalfc.com
commodity bourses, defence, Department of Industrial Policy and Promotion, DIPP, FDI, foreign direct investment, France, Germany, Japan, Mauritius, Netherlands, power exchanges, PSU oil refineries, Singapore, stock exchanges, telecom, Tesco group, UAE, UK
