This Article is From Aug 22, 2014

FDI Into India Jumps 34 Per Cent to $1.92 Billion in June

FDI Into India Jumps 34 Per Cent to $1.92 Billion in June

New Delhi: Foreign direct investment (FDI) flows into India surged about 34 per cent to $1.92 billion in June, according to the official data.

In June 2013, the country had received FDI worth $1.44 billion.

During April-June in this fiscal year, foreign inflows recorded a growth of 34 per cent. FDI was at $7.23 billion in the quarter ended June 2014 as compared to $5.39 billion in the corresponding period a year ago, data from the Department of Industrial Policy and Promotion showed.

In May, the FDI figure ($3.60 billion) was the highest since September 2013 when the country received foreign investment of $4.13 billion.

Amongst the top ten sectors, telecommunications received the maximum FDI in the first quarter of the current fiscal at $2 billion followed by services ($738 million), pharmaceuticals ($680 million) and construction ($281 million).

During the period, India received maximum FDI from Mauritius at $2.61 billion, followed by Singapore ($1.18 billion), the UK ($567 million), Japan ($695 million) and the US ($249 million).

In 2013-14, FDI inflows in India were $24.29 billion against $22.42 billion in 2012-13.

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.