FDI in India up 56 per cent at $3.516 billion in July

Foreign equity inflows or foreign direct investment (FDI) into the country were up 56 per cent at $3.516 billion (Rs17,045 crore) in July 2009, as against $2.247 billion (Rs9,627 crore) received in the corresponding month of the previous year. FDI inflows into the country stood at $705 million (Rs2,849 crore) in July 2007.

The FDI equity inflows showed an increase of 56 per cent in dollar terms (and 77 per cent in rupee terms) over July 2008 (corresponding month of previous year), commerce minister Anand Sharma said at a press conference, in New Delhi today.

For the current year, Sharma said, FDI inflows have risen to $3.516 billion in July from $2.582 billion in June and $2.096 billion in May, representing a month-on-month increase of 36 per cent and 23 per cent, respectively.

Despite the current economic situation, the minister said, FDI equity inflows for April-July 2009 stood at $10.532 billion (Rs51,256 crore) as against $12.320 billion (Rs51,440 crore) received in April-July 2008.

"The corresponding amount in April 2007 to July 2007 was $5.706 billion, compared to which FDI equity inflows during the current financial year have increased by nearly 85 per cent", he added.

The major sectors receiving FDI equity inflows are: service sector ($1.86 billion), housing and real estate ($1.18 billion), construction activities ($0.68 billion), telecommunication ($0.67 billion), and automobile industry ($0.27 billion).