NEW DELHI: Foreign direct investment (FDI) in India higher by way of about 3 in step with cent to $61.96 billion in 2017-18 on account of steps taken by way of the government to fortify trade local weather and liberalised policy norms.
FDI inflows stood at $60 billion in the previous fiscal. The figure comprises equity inflows, reinvested income and other capital.
Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek stated that all over the 4 years of the Modi govt, overseas inflows jumped to $222.75 billion from $152 billion in the previous four-year length.
In the closing 4 years, the government has liberalised FDI norms in sectors similar to defence, scientific gadgets, construction development, retail and civil aviation. The major sectors that received most overseas inflows include products and services, laptop tool and hardware, telecommunications, construction, trading and automotive.
Major resources of overseas inflows include Mauritius, Singapore, Japan, the Netherlands, the US, Germany, France and the UAE.
However, in line with an UNCTAD document the day gone by, overseas direct investment (FDI) to India lowered to $40 billion in 2017 from $44 billion in 2016, whilst outflows from India, the primary source of investment in South Asia, greater than doubled.
Foreign inflows are a very powerful for India, which wishes large investments to overhaul its infrastructure similar to ports, airports and highways to push growth. It is helping fortify the country's balance of payments state of affairs and support the rupee price in opposition to other international currencies, especially the US greenback.
Speaking on FDI problems, Commerce and Industry Minister Suresh Prabhu stated that the government abolished overseas investment promotion board to facilitate in a foreign country investments.
Most of the sectors are under automated approval route for FDI purposes, he stated.
When requested about the issue of iPhone maker Apple and US-based electrical car main Tesla, he stated India would welcome investments from all corporations, including these two.
"We are awaiting a formal proposal from them and then we will look into it," he stated.
The Cupertino-based iPhone and iPad producer Apple has requested for positive concessions for putting in manufacturing unit in the country.
"We will be very happy to receive a proposal" from Tesla additionally, he added.
US-based electrical automobile maker Tesla lately cited a challenging atmosphere for no longer making it to the Indian market.
FDI inflows stood at $60 billion in the previous fiscal. The figure comprises equity inflows, reinvested income and other capital.
Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek stated that all over the 4 years of the Modi govt, overseas inflows jumped to $222.75 billion from $152 billion in the previous four-year length.
In the closing 4 years, the government has liberalised FDI norms in sectors similar to defence, scientific gadgets, construction development, retail and civil aviation. The major sectors that received most overseas inflows include products and services, laptop tool and hardware, telecommunications, construction, trading and automotive.
Major resources of overseas inflows include Mauritius, Singapore, Japan, the Netherlands, the US, Germany, France and the UAE.
However, in line with an UNCTAD document the day gone by, overseas direct investment (FDI) to India lowered to $40 billion in 2017 from $44 billion in 2016, whilst outflows from India, the primary source of investment in South Asia, greater than doubled.
Foreign inflows are a very powerful for India, which wishes large investments to overhaul its infrastructure similar to ports, airports and highways to push growth. It is helping fortify the country's balance of payments state of affairs and support the rupee price in opposition to other international currencies, especially the US greenback.
Speaking on FDI problems, Commerce and Industry Minister Suresh Prabhu stated that the government abolished overseas investment promotion board to facilitate in a foreign country investments.
Most of the sectors are under automated approval route for FDI purposes, he stated.
When requested about the issue of iPhone maker Apple and US-based electrical car main Tesla, he stated India would welcome investments from all corporations, including these two.
"We are awaiting a formal proposal from them and then we will look into it," he stated.
The Cupertino-based iPhone and iPad producer Apple has requested for positive concessions for putting in manufacturing unit in the country.
"We will be very happy to receive a proposal" from Tesla additionally, he added.
US-based electrical automobile maker Tesla lately cited a challenging atmosphere for no longer making it to the Indian market.
FDI in India rises to $61.96 billion in 2017-18: Government
![FDI in India rises to $61.96 billion in 2017-18: Government]()
Reviewed by Kailash
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June 09, 2018
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