FDI in November dips 6% annually to $1.53 bn

Foreign direct investment (FDI) into India declined by over 6% year-on-year in November 2014 to $ 1.53 billion.

In November 2013, the country had received FDI worth $ 1.63 billion.

However, for the April-November period of the ongoing fiscal, FDI grew by 22% to $ 18.88 billion as against $ 15.45 billion in the same period a fiscal before, according to the Department of Industrial Policy and Promotion data.

Amongst the top 10 sectors, telecom received the maximum FDI of $ 2.47 billion in the eight months period of the current fiscal, followed by services ($ 1.84 billion), automobile ($ 1.53 billion), pharmaceuticals ($ 1.15 billion) and computer software and hardware ($ 862 million).

During the period, India received maximum FDI from Mauritius at $ 5.20 billion, followed by Singapore ($ 3.74 billion), Netherlands ($ 2.42 billion), the US ($ 1.35 billion), Japan ($ 1.28 billion).

In 2013-14, FDI stood at $ 24.29 billion as against $ 22.42 billion in the 2012-13 fiscal.

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

India is estimated to require around $ 1 trillion over five years to overhaul its infrastructure sector, including ports, airports and highways to boost growth.

The government is taking steps to boost FDI in the country. It has relaxed FDI in sectors including insurance, railways and medical devices.