FDI vaults 259 per cent to $1.6 billion in July
06 October 2006
Mumbai: Foreign direct investment (FDI) in the country rose by a record 259 per cent to $1.16 billion as against $324 million in July 2005. On a cumulative basis, FDI inflows rose 92 per cent during April-July this fiscal to $2.9 billion against $1.5 billion in the same period last year, commerce minister Kamal Nath said.
The single largest investment so far this year was by Singapore-based Barclays Bank, which brought in $380 million, he said.
FDI inflows into the manufacturing sector and sectors impacting the manufacturing sector continue to show a record growth. FDI equity inflows into manufacturing alone in April-July 2006-07 is estimated at $668.41 million, he said.
There has been a surge in FDI inflows into sectors like design and engineering, air / sea transport, ports, construction activities etc following rationalisation of the government's FDI policy.
The 10 sectors that attracted the highest FDI into India since 1991 were electrical equipment (including computer software & electronics), services sector (financial & non-financial), telecommunications (radio paging, cellular mobile, basic telephone services), transportation industry, fuels (power and oil refinery), chemicals (other than fertilisers), food processing industries, drugs and pharmaceuticals, cement and gypsum products and metallurgical industries.
Mauritius, the US, Japan, the Netherlands, the UK, Germany, Singapore, France, South Korea and Switzerland were the top 10 investing countries.