Mauritius contributes 49 pct of FDI equity inflows to Gujarat, RBI data shows

Written by Avinash Nair | Ahmedabad | Updated: Sep 14 2014, 04:00am hrs
FDIThis FDI equity inflow during the last fiscal was almost double compared to Rs 2676 crore witnessed in 2012-13. Reuters
At a time when both the Chinese and Japanese are queuing up to make significant investments in Gujarat, a glance at the figures from the Reserve Bank of India (RBI) reveals that Mauritius tops the list of countries that contributes the highest quantum of Foreign Direct Investment (FDI) equity inflows into the state.

During the year 2014-15 (i.e. between April and June), Gujarat has attracted Rs 910 crore of FDI equity stands fifth in the list of states. Last year (i.e in 2013-14), Gujarat saw Rs 5,282 crore worth of FDI flowing into the state. This FDI equity inflow during the last fiscal was almost double compared to Rs 2676 crore witnessed in 2012-13.

Between the year 2000 and 2013, the state has seen FDI inflows of Rs 39,600 crore, 49 percent of which has come from the island nation, Mauritius. "Most of this money come in form of Foreign Institutional Investors (FIIs) through Mauritius," said Bhagyesh Soneji, the chairperson of ASSOCHAM in Gujarat.

The other top five countries who contribute maximum to FDI equity flow into Gujarat include USA (14%), Singapore (10%), United Kingdom (5%) and Cyprus (4%).

"Countries like China have negligible FDI investments in Gujarat. Except for a couple of projects there has been little Chinese presence in the state. But the scenario might change if the Chinese decides to set up some major projects in the state," Sonejji added.

Meanwhile, the sector that has brought in the maximum FDI into the state is Telecommunication cornering 19 percent of the inflow during the last 13 years. Power sector (15%), Metallurgical industries (10%), Petroleum and Natural Gas (9%) and Services Sector (9%) and the other sectors that bring in foreign capital in to Gujarat.

Among the top five companies that have been responsible for the FDI equity inflows into Gujarat during this period are Idea Cellular Ltd, Essar Steel Ltd, Adani Power Ltd, Riddi Siddhi Corn Processing Pvt Ltd and Reliance Ports and Terminals Ltd.