FDI flows have increased since the month of July
The Foreign direct investments (FDI) flows into India more than doubled to $3.5 billion in the month of July, according to the data that was released by the Department of Industrial Policy and Promotion today. In the month of July 2013, the country had received FDI worth $1.65 billion.
During April-July this fiscal, the foreign inflows grew by 52 percent to $10.73 billion as compared to $7.05 billion in the same period last year. Amongst the top 10 sectors, telecommunications received the maximum FDI at $2.33 billion followed by services ($1 billion), pharmaceuticals ($886 million) and construction ($430 million) during the first-four months of the fiscal.
India requires around $1 trillion in the next five years to overhaul its infrastructure sector, including ports, airports and highways to boost growth. The government is taking more steps to boost FDI in the country. It has raised the foreign investment limit to 49 per cent in defence manufacturing and relaxed the policy in construction sector. The government has also proposed to increase the FDI cap in insurance to 49 per cent.
Source: The Hindu Business Line
Department of Industrial Policy and Promotion, FDI worth $4.83 billion during 2012-13, Foreign direct investments
