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FDI up 23% at $10 bn during April-May, says Nirmala Sitharaman

As per the FDI policy, FDI up to 100%, under automatic route, allowed in food processing industries

Press Trust of India  |  New Delhi 

fdi

(FDI) grew by 23 per cent to $10.02 billion during April-May this financial year, was informed on Monday.

In 2016-17, the foreign fund inflows aggregated at $60.08 billion, Commerce and Industry Minister said in a written reply to the Lok Sabha.


She said that to promote FDI, the has put in place an investor-friendly policy.

"Except for a small negative list, most sectors are open for 100 per cent under the automatic route," she added.

The minister also said that after the abolition of the foreign investment promotion board, the work of monitoring of the compliance of conditions, including the past cases approved by erstwhile FIPB has been assigned to the concerned administrative ministries.

In a separate reply, Sitharaman informed that has received $182.4 million in food products during April- May period of this financial year.

In food processing industries, foreign players have invested $187.9 million during the period.

As per the policy, up to 100 per cent, under the automatic route, is allowed in food processing industries.

Further, 100 per cent under route for retail trading, including through e-commerce, is permitted in respect of food products manufactured and/or produced in

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