India attracted highest-ever monthly FDI in March
10 May 2012
India attracted foreign direct investment of $8.1 billion in March, the highest ever in terms of monthly inflows – perhaps belying fears that the retrospective changes in tax laws in this year's budget would scare away foreign investors.
Cumulative FDI inflows for the fiscal 2011-12 amounted to $36.50 billion, PTI reported citing authoritative sources. Earlier, the highest monthly FDI of ($5.65 billion) was reported in June last year.
In March 2011, the country had seen FDI worth $1.07 billion.
The March data has been compiled by the Department of Industrial Policy and Promotion (DIPP), but is yet to be released officially.
The $7.2 billion Reliance Industries-British Petroleum (BP) deal, announced in February 2011, contributed significantly to the inflows, even though funds from the UK oil major would have come in phases, the report said.
The sectors, which received large foreign FDI inflows during 2011-12 include the service sector, pharmaceuticals, telecom, construction, power and metallurgical industries, a DIPP official said.
He added that Mauritius remained the top FDI source.
Inflows had aggregated to $19.42 billion in 2010-11, down from 25.83 billion in 2009-10.
.webp)
