FDI dips 40 per cent in March to $2.11 billion; lowest in four months
In November 2014 the FDI was the lowest at USD 1.53 billion
New Delhi: Foreign direct investment (FDI) in India declined by 40 per cent year-on-year to USD 2.11 billion in March 2015, the lowest in the last four months of 2014-15 fiscal. Previously, in November 2014 the FDI was the lowest at USD 1.53 billion. FDI in India was at USD 3.53 billion in March 2014.
However, during the 2014-15 financial year, foreign fund inflows grew 27 per cent, year-on-year, to USD 30.93 billion as against USD 24.29 billion in 2013-14, according to the data of Department of Industrial Policy and Promotion (DIPP). Amongst the top 10 sectors, services received the maximum FDI of USD 3.25 billion in 2014-15, followed by telecommunication (USD 2.89 billion), automobiles (USD 2.57 billion), computer software and hardware (USD 2.20 billion) and pharmaceuticals (USD 1.52 billion).
During the entire financial year, India received the maximum FDI from Mauritius (USD 9.03 billion), followed by Singapore (USD 6.74 billion), the Netherlands (USD 3.43 billion), Japan (USD 2.08 billion) and the US (USD 1.82 billion). In 2013-14, FDI stood at USD 24.29 billion as against USD 22.42 billion a year earlier.
India is estimated to require around USD 1 trillion investment over five years to overhaul its infrastructure sector, including ports, airports and highways to boost growth. The government has relaxed FDI norms in various sectors, including insurance, railways and medical devices, to boost FDI in the country.