FDI inflows rose in 2014-15 from 3 countries visited by Modi | business | Hindustan Times
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FDI inflows rose in 2014-15 from 3 countries visited by Modi

business Updated: Jul 30, 2015 22:12 IST
Modi's foreign visits


Inflows from foreign direct investment (FDI) increased in 2014-15 three countries out of four major investing nations visited by Prime Minister Narendra Modi last fiscal with Australia showing a decline, government said on Thursday.

Replying in the Rajya Sabha, external affairs minister Sushma Swaraj said Modi visited 26 countries from June 2014 to July 2015 and all visits had a substantial economic component.

"These efforts have helped in creating a positive image of India and, as a result, FDI equity inflows increased from USD 24.3 billion in financial year 2013-14 to USD 30.9 billion in 2014-15, a growth of 27.3%," she said.

A break-up of FDI inflows from top 10 countries visited by Modi showed increase in eight cases and decline in two others.

Out of this, he visited only four countries during the last fiscal. Among these four nations, FDI inflows increased from Mauritius, Japan and the US.

FDI inflow from Australia declined marginally. Swaraj further said, FDI inflows in the first two months of the current fiscal also increased by 40% to USD 5.3 billion.

The countries visited in April and May included Canada, Germany, France and China. While Delhi NCR was the top FDI destination, Gujarat was at the fifth place in receiving foreign investments.