FDI in April-Oct dips 15 pc to USD 12.6 bn

Written by PTI | New Delhi | Updated: Dec 12 2013, 01:48am hrs
FDIFDI in India declined by about 15 per cent to Rs 74,971 crore during April-October this year (Reuters)
Foreign direct investment (FDI) in India declined by about 15 per cent to USD 12.6 billion (Rs 74,971 crore) during April-October this year, Parliament was informed today.

According to the Department of Industrial Policy and Promotion (DIPP), FDI in the same period last year was USD 14.78 billion.

"India has received total FDI equity inflow of an amount of Rs 74,971 crore from April, 2013 to October, 2013," Minister of State for Commerce and Industry E M Sudarsana Natchiappan said in a written reply to the Rajya Sabha.

Among different sectors, food processing industries recevied USD 2.14 billion, services USD 1.36 billion, pharmaceuticals USD 1.08 billion, automobile USD 784 million and construction development USD 699 million.

The Minister said that the government reviews FDI policy on an ongoing basis, to ensure that India remains an attractive and investor-friendly destination.

"In a recent review of the policy, government amended the sectoral caps and/or entry routes in some sectors viz. petroleum & natural gas; commodity exchanges; power exchanges; stock exchanges; single brand product retail trading and telecom services," he added.