FDI in Apr dips 26% to $1.7 bn; lowest in 5 months

The foreign direct investment (FDI) into India has declined 26% to$ 1.70 billion in April - the lowest in last five months, according to the data of Department of Industrial Policy and Promotion.

 

In April 2013, the country had received FDI worth $2.32 billion.

 

Amongst the top 10 sectors, pharmaceuticals received the lowest FDI in April at$ one million as against$ 987 million in April 2013.

 

Sectors which registered growth in FDI include services ($382 million), hotel and tourism ($109 million), metallurgical industries ($72 million), construction ($69 million), the data said.

 

Last time, the country had received its lowest FDI in December when it was $1.10 billion.

 

During the month under review, India received maximum FDI from Mauritius at $489 million, followed by Singapore ($ 316 million), Japan ($214 million), the Netherlands ($101 million) and the UK ($43 million).

 

Overall, the inflows had aggregated to$ 24.29 billion in 2013-14 as against $22.42 billion in 2012-13.

 

India would require around $1 trillion in the next five years to overhaul its infrastructure sector, including ports, airports and highways to boost growth.

 

Decline in foreign investments could put pressure on the country's balance of payments and may also impact the value of the rupee.