Maharashtra tops FDI equity inflows

Total inflows during the current fiscal for the state is at almost $2 bn

After Delhi and Maharashtra, Tamil Nadu has topped in foreign direct investment (FDI) equity inflows in the current financial year, according to Commerce Minister Nirmala Sitharaman. None of the other states has touched the $1,000-million mark.

According to Reserve Bank of India (RBI) data, Tamil Nadu received $1,990.88 million during the April-September 2014 period. This is the third-largest after Mumbai — which includes Maharashtra, Dadra & Nagar Haveli, Daman & Diu — which received $2,578.76 million. New Delhi (Delhi and part of Uttar Pradesh and Haryana) received $2,424.61 million.

The FDI equity inflow during the current financial year stood at $14,472.24 million.  Among the southern states, Andhra Pradesh received $789.69 million, Karnataka $562.20 million and Kerala $45.69 million.

Officials in Tamil Nadu are hopeful the state would perform better than last year. According to them, compared with other states, Tamil Nadu has got more exposure to the global economy. And with the global economy likely to turn around this year, the state stands to gain.

In 2011-12, Tamil Nadu received $1,422.39 million, which increased to $2,807.45 million in 2012-13 and dipped to $2,116.24 million in 2013-14.