FDI Inflows Into India In Jan-Aug Up By 50%

2011-10-28 17:32:03

Foreign Direct Investment or FDI in India during January-August period surged by 50 percent to $20.76 billion from the $13.85 billion in the corresponding period of the preceding year, in spite of uncertain economic environment globally, PTI reported, quoting the industry ministry's latest data.

Experts maintain that the government should further streamline policies and make the environment more conducive to FDI.

The sectors that attracted maximum FDI during the first eight months this year include services (financial and non- financial), telecom, housing and real estate, construction and power, the industry ministry data showed.

Mauritius, Singapore, the US, the UK, the Netherlands, Japan, Germany and the UAE, among other countries, are the major investors in India.

During the last fiscal, FDI inflows into India totaled $19.42 billion, down from $25.83 billion in 2009-10.

Recently, the government further liberalized the FDI regime, allowing overseas investment in bee-keeping and share-pledging for raising external debt.

Besides, the conditions for FDI in construction of old-age homes and educational institutions have been eased. These will not be subject to the minimum and built-up area, capitalization and lock-in period norms as applicable for the construction activities.