FDI in India falls nearly 38 per cent in April-October to $12.4 billion
16 Dec 2010
Foreign direct investment in the country during the first seven months of the current financial year (April-October 2010-11) stood at $12.40 billion against $19.95 billion in the corresponding period of the previous year - a 37.8 per cent year-on-year decline.
FDI equity flows into the country during January-October 2010 stood at $17.37 billion, official data showed.
FDI in India stood at $25.89 billion for the whole of the previous financial year (April-March 2009-10). The government has set an FDI target of $33 billion in the current fiscal.
The government is now looking at opening the retail and insurance sectors in order to attract continued flows of foreign equity investment.
The government initiated stakeholder discussions on various important issues under FDI policy, the statement said.
The Department of Industrial Policy and Promotion has issued five discussion papers relating to FDI in defence sector, FDI in multi-brand retail trading, approval of foreign/technical collaborations in case of existing ventures/tie-ups in India, issue of shares for considerations other than cash and FDI in limited liability partnerships, the release said, adding that the consultation process has been completed in all cases, it said.
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