FDI in November up by 55 pc to USD 1.63 bn

After declining for three months in a row, foreign direct investment (FDI) in India grew by about 55 per cent to USD 1.63 billion in November last year.
According to the Department of Industrial Policy and promotion (DIPP), FDI in November 2012 stood at USD 1.05 billion.
However, during April-November 2013, the foreign inflows dipped by 2 per cent to USD 15.45 billion, the data said.
This figure stood at USD 15.84 billion during April-November 2012.
Among different sectors, in the first eight months of the current fiscal, services received highest FDI (USD 1.46 billion) followed by pharmaceuticals (USD 1.25 billion), construction development (USD 889 million) and automobile (USD 838 million).

Mauritius topped the chart with USD 3.41 billion foreign direct investment in India during April-November 2013, followed by Singapore (USD 3.05 billion), UK (USD 3.12 billion) and the Netherlands (USD 1.5 billion).
India's economic growth fell to a decade's low of 5 per cent for the entire 2012-13 fiscal. The country needs foreign investments to help regain its growth momentum.