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Foreign Direct Investment (FDI) Inflows Up 13% In December at $1.5 b

By ugesh sarkar, Section Business
Posted on Sun Jan 31, 2010 at 09:06:42 PM EST

India attracted foreign direct investment (FDI) inflows of about $1.5 billion during December 2009, an over 13 per cent increase from about $1.3 billion notched a year ago, according to initial estimates.

On a cumulative basis, FDI inflows were almost flat at $20.9 billion between April and December of this fiscal compared with $21.1 billion in the corresponding period previous year, Government sources said.

Sector strengths
While the data pertaining to sector-specific break-up for December is not yet out, on a cumulative basis between April-November FY10, the services sector (financial and non-financial services) brought in FDI to the tune of $3.4 billion, and telecom accounted for another $2.2 billion.

For the same period, housing and real estate raked in FDI equity inflows of nearly $2.2 billion, while $1.7 billion of inflows were channelised towards construction activities.

Source: www.thehindubusinessline.com By Moumita Bakshi ChatterjeeFDI inflows up 13% in December at $1.5 b

* Growth streak

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In the first eight months of the current financial year, power and automobile sectors accounted for FDI inflows of about $1.2 billion, and $934 million, respectively. Other large contributors were computer software and hardware ($575 million), metallurgical industries ($309 million) and petroleum and natural gas ($219 million).

Growth streak
In fact, as the growth streak continues, this is the third month in a row that FDI inflows have posted a robust year-on-year jump. October 2009 recorded a 56 per cent year-on-year rise in FDI inflows at $2.3 billion, and November `09 turned out even better with inflows surging 60 per cent to $1.7 billion against $1.08 billion in the year-ago period.

In a bid to give further fillip to FDI, the Ministry of Commerce and Industry, last month, released a draft document that consolidates foreign investment policy notified so far through 177 Press Notes by the Department of Industrial Policy and Promotion, and various circulars by Reserve Bank of India, into a single regulatory framework.

The consolidated framework is aimed at providing a greater clarity on the existing rules to foreign investors, but will not alter the current FDI norms or sector specific caps.

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Foreign Direct Investment (FDI) Inflows Up 13% In December at $1.5 b

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