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FDI inflow sluggish; receives $13.92 billion in first 9 months

Last Updated: Thursday, March 7, 2013 - 17:47

New Delhi: FDI inflows to India remained slow as it received USD 13.92 billion in the first nine months of current fiscal compared to USD 23 billion in 2011-12.

The country received USD 13.92 billion in FDI between April and December, 2012, Overseas Indian Affairs Minister Vayalar Ravi told Rajya Sabha while replying to a question on Thursday.

He said India received USD 23.47 billion in FDI in 2011-12 while in 2010-11, the amount was USD 14.93 billion.

The major sectors which received FDI in the current fiscal are services, Information and Broadcasting, metallurgical industries, chemicals and textiles.

To increase FDI inflows, the government last year had liberalised the foreign direct investment policy. The government liberalised FDI policy in sectors, including multi-brand retail, single-brand retail, commodity exchanges, power exchanges, broadcasting, non-banking financial institutions and asset reconstruction companies.

To a question on total investment made by NRI in the last five years, Ravi said no separate data has been maintained on investment by the overseas Indians.

Quoting RBI data, he said India received USD 22.45 billion in 2009-10 and USD 26.73 billion in 2008-09.

The Minister said 'Invest India', a joint venture between the Department of Industrial Policy and Promotion and FICCI acts as a facilitator for prospective overseas investors including NRIs.

PTI

First Published: Thursday, March 7, 2013 - 17:45
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