FDI equity for current fiscal up 17 pct to USD 25.35 bn

In the wake of Standard & Poor's (S&P) recent rating of the Indian economy, the Department of Industrial Policy and Promotion noted a 17 percent surge in Foreign Direct Investment (FDI) equity.

As per the DIPP's 'Make in India' twitter handle, India's FDI equity was reported to be USD 25.35 billion in the current fiscal year (FY 2017-18), up from USD 21.62 billion in the last year.

Further, it was reported that between April 2000 and September 2017, the total FDI inflow including equity inflows, reinvested earnings and other capital was USD 518.10 Billion.

Meanwhile, financial services company S&P on Friday retained its outlook on India as stable, and kept the rating unchanged at BBB-.

While the agency retained its rating on India, it also lauded the Modi-led government's fiscal consolidation drive under which multiple reforms were taken towards the path of a favourable economy.

The report noted that despite two quarters of weaker-than expected growth, India's economy will grow robustly in 2018-20, and foreign exchange reserves will continue to rise.

Further, it stated that over the next two years, India's growth will remain strong and fiscal deficits will remain broadly in line with the expectations.