India received 238 FDI proposals so far this yr

The government today said that the country has received as many as 238 foreign direct investment (FDI) proposals so far this year.

"During the year 2009, (up to November), 238 proposals were received," Minister of State in the Ministry of Commerce and Industry Jyotiraditya M Scindia said in a written reply to the Lok Sabha.

Out of the 238 proposals, the government has approved 190, while 13 were rejected and 6 were withdrawn or closed. Around 29 proposals are either listed for consideration or to be listed in the fourth session, the minister added.

During the last three years, Foreign Investment Promotion Board (FIPB) has received a total of 1,102 FDI proposals, out of which 286 were received in 2006, 393 in 2007 and 424 in 2008, he added.

Citing a study instituted by the government through the National Council of Applied Economic Research (NCAER) titled "Growth linkages of FDI in India", the minister said the country has received around $90 billion during April 2000 to March 2009.

The sectors that cornered the major portion of the FDI inflow are -- services, telecom; real estate; construction; automobile; power; metallurgical industries; petroleum and natural gas and chemicals among others.

Mauritius was the main source, followed by Singapore, the US, the UK, the Netherlands and Japan.