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FDI from UK surpasses US this year

Mar '07
Cumulative Foreign Direct Investment (FDI) upto December 2006 reached Rs2,03,549 crore or US $48,174 million. FDI inflows include amount received on account of advances pending for issue of shares for the years 1999 to 2004.

FDI inflows for current financial year 2006-2007 up to December 2006 reached Rs42,138 crores or $9,273 million. This represented a surge of 157 or 151 percent as against Rs16,393 crore or $3,697 million in 2005-2006.

Mauritius was a major investor for the April-December 2006 period with Rs19,259 crores or $4,215 million. It has been a consistent investor from August 1991 to December 2006, with the cumulative figure accounting for 39.2 percent.

Meanwhile, US and UK have been in constant competition with US leading. However, for April-December 2006 UK surpassed US with Rs7,525 crore or $1,682 million.

Electrical equipments (including computer software & electronics), services sector (financial & non-financial), telecommunications (radio paging, cellular mobile, basic telephone services), fuels (power + oil refinery) and chemicals (other than fertilizers) remained top industries attracting Rs30,256 crore ($6,923 mn), Rs30,133 crore ($6,911 mn) Rs16,554 crore ($3,861 mn) Rs11,849 crore ($2,773 mn) and Rs9,252 crore ($2,290 mn) investment, respectively.

During August 1991 to December 2006 textiles including dyes and prints brought in Rs22,131.90 or $547.60 million accounting for 1.25 percent of the total FDI.

Soaps, cosmetics and toilet preparations accounted for 0.22 percent at Rs3,967.59 or $90.37.

Fertilizers and chemicals brought in Rs3,521.16 ($83.23 mn) and Rs92,518.11 ($2,289.66 mn), respectively, contributing 0.20 and 5.21 percent.

FDI in dye-stuffs industry during the period was Rs592.04 or $16.01 million, accounting for 0.03 percent.

Investment in leather, leather products and pickers was around Rs2,319.50 or $59.68 million accounting for 0.13 percent.

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