FDI in India only up 0.27% in Apr-Dec 2017

Foreign direct investment (FDI) in India increased by a marginal 0.27 per cent to $35.94 billion during the April-December period of the current fiscal, according to data released by the Department of Industrial Policy and Promotion (DIPP) on Wednesday.

The FDI entering the country during the corresponding of the the last financial year stood at $35.84 billion.

Instead, FDI inflows during the first nine months of the ongoing fiscal fell by 4 per cent in rupee terms at Rs 2,31,457 crore.

The major sectors attracting FDI during April-December were telecommunications ($6.13 billion) computer software and hardware ($5.15 billion), services ($4.62 billion) and construction ($2.5 billion).

The three main countries of origin for FDIs into India during the period in review were Mauritius ($13.34 billion), followed by Singapore ($9.21 billion) and the Netherlands ($2.38 billion).

While a strong inflow of foreign investments help improve India's balance of payments, the consequent strengthening of the rupee against major global currencies acts as a dampener on the country's exports.

--IANS

bc/vd