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FDI inflow up by 37%, India 3rd best host economy
21
Jul '16
With Foreign Direct Investment inflows rising by 37% from $ 62.39 billion to $ 85.75 billion between October 2014 and May 2016, India has been ranked 3rd in the list of top prospective host economies for 2016-18, Parliament was informed today.

During the period, FDI equity inflow increased by 46% from $ 42.31 billion to $ 61.58 billion compared to previous 20 months (February, 2013 to September, 2014), prior to the launch of the Prime Minister's ambitious “Make in India” initiative aimed at promoting the country as an important investment destination and a global hub for manufacturing, design, and innovation.

India has also been ranked 3rd in the list of top prospective host economies for 2016-18 in the World Investment Report (WIR) 2016 of UNCTAD, Union Minster of state for Commerce and Industry, Nirmala Sitharaman said in a written reply in Rajya Sabha.

FDI equity inflow for the textiles sector during the post make in India launch period was $366.90 million, the Minster stated and clarified that company wise classification of the investment based on the programme is not maintained centrally.

However, sector-wise details of investment received through Foreign Direct Investment (FDI) equity inflows after launch of `Make in India' programme in September, 2014, are detailed Annexure-I, that can be accessed at http://pib.nic.in/newsite/erelease.aspx?relid=0/147320

To further boost the investment environment and attract more FDI, the Government is taking various measures like relaxing rules in many sectors and improving the ease of doing business in the country.

While, steps are being taken for development of support infrastructure to facilitate setting up of industries such as transport infrastructure, utility infrastructure etc, the Department of Industrial Policy and Promotion (DIPP) has advised ministries and state Governments to simplify and rationalize the regulatory environment through business process reengineering and use of information technology, she said. (SH)

Fibre2Fashion News Desk – India

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