Maha, NCR draw 55% FDI | business | Hindustan Times
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Maha, NCR draw 55% FDI

business Updated: Oct 10, 2010 21:43 IST

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Maharashtra and the National Capital Region accounted for over 50 per cent of foreign direct investment (FDI) inflows during the April-July quarter of the current fiscal, according to data released by the industry ministry.

Maharashtra attracted maximum foreign inflows at about $2 billion (R9,118 crore) and accounted for 35 per cent of the country's total FDI during the first four months of this fiscal.

The National Capital Region (NCR) including parts of Uttar Pradesh and Haryana, received $1.7 billion FDI, accounting for 20 per cent of the country's FDI.

During April-July 2010-11, India received $7.6 billion foreign inflows, the data said.

According to experts, healthy infrastructure is the main reason for the maximum inflows in Maharashtra and NCR.

"Infrastructure in these areas have improved considerably and that is making them attractive destination for FDI in India," said Rakesh Joshi, an international trade expert at Indian Institute of Foreign Trade.

"Maharashtra is traditionally industrialised state. It acts as a magnate for FDI," said D.K. Joshi, principal Economist, CRISIL.

Karnataka attracted the third- highest FDI inflows worth $891 million during the period, followed by Andhra Pradesh ($423 million), Goa ($290 million), Tamil Nadu ($285 million) and Gujarat ($208 million).

Sectors, which attracted maximum FDI include services, telecommunication, metallurgical industries, power, computer hardware and software, and construction activities.

The highest FDI of $2.5 billion came from Mauritius, followed by Singapore ($974 million) and Japan ($489 million).