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FDI up 37% after launch of ‘Make in India’

Foreign direct investment (FDI) into the country has increased 37 per cent after the launch of ‘Make in India’ programme till February this year, Parliament was informed today.

fdi inflows
Under the extant norms governing multi-brand retailing, FDI is allowed up to 51% and at least 30% of the inputs have to be sourced locally from small and medium enterprises.
fdi inflows in India, China
Foreign direct investment (FDI) into the country has increased 37 per cent after the launch of ‘Make in India’ programme till February this year, Parliament was informed today. (Photo: PTI)

Foreign direct investment (FDI) into the country has increased 37 per cent after the launch of ‘Make in India’ programme till February this year, Parliament was informed today.

“In the 17-month period (October 2014-February 2016) up to February after the launch of ‘Make in India’, FDI inflows have increased by 37 per cent,” Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

She also said the overseas inflows grew 29 per cent during the period compared to the 15-month period prior to the launch.

The ‘Make in India’ initiative was launched on September 25, 2014 with an aim to make the country a global manufacturing hub.

Replying to a separate question, she said in 2015 the government has received as many as 204 FDI proposals, worth USD 39.32 billion.

In 2016, (till April 22), 64 proposals have been received.

In a separate reply, she said the top ten states that have implemented industrial entrepreneurs memoranda(IEMs) during January 2015 to March this year include Maharashtra (82 worth Rs 53,438 crore), Gujarat (117 worth Rs 8,474 crore) and Andhra Pradesh (67 worth Rs 5,560 crore).

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