At $ 718 mn, Tamil Nadu receives half of Andhra's FDI inflow in Apr-Jun '18

Tamil Nadu received FDI investments of $718 million in April-June 2018,  only half of what its neighbour Andhra Pradesh received during the same period, according to data from Department of Industrial Policy and Promotion (DIPP).

The official figure quoting RBI's Regional Offices shows that Andhra Pradesh received $1.47 billion of FDI inflow during April to June 2018 as compared to $371 million, during the same period last year.

While Andhra Pradesh saw a surge in fund flows, Tamil Nadu witnessed a decline. During April to June 2018, total inflow into Tamil Nadu was $718 million as compared to $ 996 million during the same period of previous year.

The other bad news for Tamil Nadu is the state has lost its third position to Karnataka when it comes to cumulative investment from April 2000 to June 2018.

The state, which has seen political instability, governance challenges related to ease of doing business is alleged to be losing its grip and its claim of an investor-friendly state. It is high time the administration took note, say experts.

During the financial year 2017-18, FDI inflows into Tamil Nadu increased to $ 3.47 billion compared to $ 2.21 billion during the same period of the previous financial year. However, in both the years, the inflow was down compared to the $ 4.52 billion FDI investments during the financial year 2015-16.