FDI in the country grew by 7 percent during Q1, 2016: DIPP
Q. Foreign direct investment in the country grew by what percent to USD 10.55 billion during Q1, 2016?- Published on 01 Aug 16
FDI in India grew by 7 percent to USD 10.55 billion during Q1 of 2016-2017. Foreign investment inflows were at USD 9.88 billion in January-March 2015 according to Department of Industrial Policy and Promotion.
- Sectors which attracted maximum FDI during this period included computer hardware and software, services, telecommunications, power, pharmaceuticals and trading business.
- In terms of nations, India received the maximum overseas inflows from the US, Singapore, Japan, Mauritius and the Netherlands.
- Further liberalisation of the foreign investment policies for services sector in the budget means more inflows will come.
- Government has recently relaxed FDI norms in 8 sectors namely defence, civil aviation, food processing, private security agencies and pharmaceuticals.
- Foreign investment is critical for India which needs USD 1 trillion for overhauling infrastructure such as ports, airports and highways for boosting growth.
- Strong inflow of foreign investments will help improve the country’s BOP situation and strengthen the rupee value against other global currencies including the US dollar.