FDI zooms 34 percent to $1.92 bn in June

The inflow of foreign direct investment (FDI) zoomed 34 percent to $1.92 billion in June, according to official data released by the Department of Industrial Policy and Promotion.

The country had received FDI worth $1.44 billion in June 2013.

During April-June 2014-15, the foreign inflows recorded a 34 percent growth. During the period, FDI was at $7.23 billion compared to $5.39 billion in the like period of the previous year.

During the April-June period in the current fiscal, the country received maximum FDI from Mauritius at $2.61 billion, followed by Singapore ($1.18 billion), Britain ($567 million), Japan ($695 million) and the US ($249 million).

Telecommunications received the highest FDI in the April-June period followed by services, pharmaceuticals and construction sectors.

FDI inflows in India were $24.29 billion in 2013-14 against $22.42 billion in 2012-13.

The Bharatiya Janata Party-led government is going all out to boost FDI inflow in the country. It has raised FDI limit in defence manufacturing, it also cleared the long-delayed 100 percent FDI in railways and a debate is on regarding 100 percent FDI in the insurance sector.

In May this year, the FDI figure ($3.60 billion) was the highest since September 2013 when the country received $4.13 billion FDI.