India has received more foreign direct investment (FDI) in the mining sector in the first two months of the current fiscal than the amount received in the entire last fiscal, Parliament was informed today.
Replying to a written question in the Lok Sabha, Mines Minister Dinsha Patel said the country has received Rs 436.61 crore FDI in the first two months of the current fiscal, which is higher by Rs 80 crore over Rs 357.42 crore received in entire last fiscal.
India had received FDI worth Rs 830 crore in 2009-10 and Rs 161 crore in 2008-09 in the sector.
FDI up to 100% is allowed in exploration, mining, mineral processing and metallurgy under the automatic route for all non-fuel and non-atomic minerals, including diamonds and precious stones.
India's annual mining production is estimated to be in excess of Rs 2 lakh crore.
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