India's FDI inflows unchanged at $ 1.1 billion in December

Tags: News
India received $ 1.1 billion of foreign direct investment in December 2013, unchanged from the level in the same month a year earlier, according to data from the Department of Industrial Policy and Promotion.

For the April-December period, foreign investment inflows dipped 2 per cent to $ 16.56 billion from $ 16.94 billion during the corresponding period of the previous year, it said.

During the first nine months of this financial year, the highest FDI came in services ($ 1.59 billion), followed by pharmaceuticals ($ 1.26 billion), construction development ($ 914 million) and automobiles ($ 871 million).

Mauritius led inflows into India with $ 3.67 billion of FDI during April-December, followed by Singapore ($ 3.2 billion), UK ($ 3.14 billion) and the Netherlands ($ 1.6 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 per cent 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. The local currency has rebounded since then and closed at 62.20 per dollar yesterday.

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E-mail ID will not be published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

  • Media obsession with his layoff smacks of lack of focus

    Pretty much like his abrupt vanishing act had done 50-odd days ago, Congress vice president Rahul Gandhi’s return on Thursday from a long and myster

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Varun Dutt

<b>Riskfactor</b>: Oblivious to reality

The hostile media effect, originally deemed the hostile media phenomenon, ...

Zehra Naqvi

Sensual wordplay

The student of literature looks for form and structure. The ...

Bubbles Sabharwal

The bitter cold heart of life

Life has a heart just as we do. Most times ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture