India's FDI inflows up 12 pc at $2b in Feb

Tags: FDI, Economy
Foreign direct investment into India grew for the second consecutive month in February this year to $ 2.01 billion, up 12.29%.

In February 2013, the FDI was at $ 1.79 billion according to the data by the Department of Industrial Policy and Promotion.

However, for the April-February period of last fiscal, FDI inflows dipped 0.6% to $ 20.76 billion, from $ 20.89 billion during the first 11 months of 2012-13.

The highest FDI came in services ($ 2.18 billion), followed by automobiles ($ 1.28 billion), pharmaceuticals ($ 1.27 billion) and construction development ($ 1.05 billion) in the 11 months of 2013-14.

Mauritius led the inflows into India with $ 4.48 billion, followed by Singapore ($ 3.91 billion), UK ($ 3.21 billion) and the Netherlands ($ 2.20 billion).

In January 2014, FDI had increased 1.5% at $ 2.18 billion.

The country needs foreign investment to help regain its growth momentum. India's economic growth slowed to a decade's low of 4.5% in 2012-13.

India is estimated to require about $ 1 trillion between 2012-13 and 2016-17, the 12th Five-Year Plan period, to fund infrastructure projects.

A decline in FDI would hurt the rupee, which depreciated to a record low of 68.85 against the US dollar on August 28 last year. Since then the local currency has rebounded and is hovering at 61 per dollar.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • If the first 17 editions of Saarc were tragedies, Kathmandu was a sham

    Rarely has a regional grouping such as the South Asian Association of Regional Cooperation (Saarc) promised so much and delivered so little.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

By the power of wind, let there be light

In India, the development of wind power began in the ...

Zehra Naqvi

Being unrealistic can be good for you

Depression is a term that most people use very casually ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture