New Delhi: In its August report, the Reserve Bank of India has stated that foreign direct investment (FDI) in the first quarter of FY 2009 has already surpassed the overall FDI inflow received in fiscal year 2005-06. FDI inflows during April-June 2008 touched US$ 10.07 billion, almost a billion more than the total FDI inflows (US$ 8.96 billion) in the 2005-06 period.
Furthermore, India is set to exceed the FDI target of US$ 35 billion during 2008-09. According to a senior official in the Department of Industrial Policy and Promotion (DIPP), "The country will achieve about US$ 35-40 billion in the current fiscal. The first quarter has crossed US$ 10 billion. Last year, it was US$ 24 billion for the entire fiscal."
Till 2005-06, India's FDI inflow was less than US$ 10 billion annually. It went up to US$ 22 billion in 2006-07 and US$ 32 billion in 2007-08. In the past decade, China has received around US$ 50 billion annually as FDI inflows. If the trend seen in the first quarter is sustained, India is likely to cross the US$ 40 billion mark in FDI inflow for the first time.
Mauritius was the top investing country in India during 2007-08, with inflows amounting to US$ 1.6 billion against US$ 578 million in 2006-07. The sectors that attracted the maximum FDI inflows during 2007-08 were services, telecom, housing, construction activities, real estate, electrical equipment and computer software and hardware. (IBEF)
Furthermore, India is set to exceed the FDI target of US$ 35 billion during 2008-09. According to a senior official in the Department of Industrial Policy and Promotion (DIPP), "The country will achieve about US$ 35-40 billion in the current fiscal. The first quarter has crossed US$ 10 billion. Last year, it was US$ 24 billion for the entire fiscal."
Till 2005-06, India's FDI inflow was less than US$ 10 billion annually. It went up to US$ 22 billion in 2006-07 and US$ 32 billion in 2007-08. In the past decade, China has received around US$ 50 billion annually as FDI inflows. If the trend seen in the first quarter is sustained, India is likely to cross the US$ 40 billion mark in FDI inflow for the first time.
Mauritius was the top investing country in India during 2007-08, with inflows amounting to US$ 1.6 billion against US$ 578 million in 2006-07. The sectors that attracted the maximum FDI inflows during 2007-08 were services, telecom, housing, construction activities, real estate, electrical equipment and computer software and hardware. (IBEF)
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