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FDI inflows into India touch a record high - Kamal Nath

20
Apr '07
Announcing a record high of FDI (equity) inflows in India while announcing the Annual Supplement to the Foreign Trade Policy (2004-09) here, Shri Kamal Nath, Minister of Commerce & Industry, said:

“I must mention here about the robust growth in our Foreign Direct Investment. A liberal Trade Policy has a direct effect on FDI flows and the two are closely inter-related."

The year 2006-07 has seen our FDI equity inflow go up to almost US$ 16 billion from US$ 5.5 billion in the previous year – almost tripling of the inflows in one year.

The last three years of our Government has seen a staggering 725% increase in FDI inflows – up from US$ 2.22 billion in 2003-04 to US$ 16 billion in 2006-07! In line with the international practice of including the retained earnings reinvested, our FDI touches US$ 19 billion in 2006-07, constituting 2.3% of our GDP.

This is about 6.8% of the gross capital formation or gross investment in the economy. I am sure, you would agree, that this is quantum jump compared to only 0.5% of GDP and about 1.5% of gross investment three years ago.

"The directional flow of FDI into manufacturing and export of goods and services is contributing immensely to our export efforts."

Press Information Bureau


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