New Delhi: Foreign Direct Investment (FDI) into India grew by 12 percent
year-on-year to USD 1.65 billion in July, highest since April.
In July 2012, the country had received FDI worth USD 1.47 billion.
In
April, the first month of the current financial year, the inflows stood
at USD 2.32 billion, according to the data of the Department of
Industrial Policy and Promotion (DIPP).
During the April-July
period, FDI has grown by 20 percent to USD 7.05 billion, from USD 5.90
billion in the same period last fiscal, the data said.
The
sectors that received large inflows during the first four months of the
2013-14 fiscal include services (USD 1.02 billion), pharmaceuticals (USD
1 billion), automobile industry (USD 637 million) and construction (USD
359 million).
The maximum FDI during the period came from
Singapore (USD 2.21 billion), followed by Mauritius (USD 1.85 billion),
the Netherlands (USD 520 million), Germany (USD 518 million), and the US
(USD 371 million).
A DIPP official said that the recent steps
announced by the government would further help in attracting FDI inflows
and improving the investment environment.
The government has liberalised FDI policy in as many as 12 sectors which include telecom, tea and petroleum and natural gas.
FDI inflows in 2012-13 aggregated USD 22.42 billion, a decline from USD 36.50 billion in 2011-12.
India
is estimated to require about USD 1 trillion between 2012-13 and
2016-17, the 12th Five Year Plan period, to fund infrastructure growth
covering sectors such as ports, airports and highways.
Overall,
an increase in FDI will help support the rupee, which depreciated to a
record low of 68.8 against the US dollar on August 28. It has
strengthened since then to 63 level.
