Make in India drove FDI up by 56%: data | business | Hindustan Times
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Make in India drove FDI up by 56%: data

business Updated: May 05, 2015 23:41 IST
Timsy Jaipuria
Timsy Jaipuria
Hindustan Times
FDI

Prime-Minister-Narendra-Modi-has-put-the-manufacturing-sector-at-the-forefront-with-his-Make-in-India-programme-AFP-File-Photo

As the government struggles to maintain investor confidence, foreign direct investments (FDI) into India has surged by 56% in five months since the Make in India programme was launched on September 24, official data revealed.

The inflow into the manufacturing sector alone saw a jump of 45% at $6.9 billion from $4.8 billion in the corresponding period a year ago.

“India received $21.2 billion in inflows overall during the five-month period, against $13.5 billion in the same period last year.If this surge continues, then as per our estimates, 2015-16 would be the year with the second highest FDI ever received by the country since 2000 (when maintenance of data started),” the official said.

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The highest FDI inflow into India was in 2010-11, at $45 billion. FDI inflows in April-September 2014 were to the tune of about $16 billion.

Of the five months under consideration, December and January saw the highest FDI inflows, the officials said. Industry experts say that the Make in India campaign has been a game-changer for the investment climate.

Said CII president Sumit Mazumdar: “Make in India has worked a lot for India. The recent Hannover fair was a classic example where every investor was excited and wanted to know more about the campaign to plan their investment in India accordingly.”

According to data for April 2014-February 2015, Mauritius ($8.44 billion or Rs. 50,640 crore), Singapore ($6.42 billion), the Netherlands ($3.29 billion), Japan ($1.72 billion) and the US ($1.69 billion) were among the leading investors.