Economic Survey: FDI up 31% at $24.8 bn during Apr-Nov

The survey added, after the launch of 'Make in India' initiative in 2014, there is a nearly 40% increase in FDI inflows

Foreign Direct Investment (FDI) into the country increased by 31% to $24.8 billion during April-November, Economic Survey said today.

FDI in April-November 2014 stood at $18.9 billion.

With a view to liberalise and simplifying the FDI policy and to provide ease of doing business climate in the country, the government has undertaken various reforms, the survey added.

It said that FDI inflows have increased into sectors like computer software and hardware, services, trading, automobile industry, construction activities, chemicals and telecommunications.

"Out of FDI equity inflows of $24.8 billion during 2015-16 (April-November), more than 60% have come from two geographically small countries named Singapore and Mauritius," the survey said.

Further, it said after the launch of 'Make in India' initiative in September 2014, there is a nearly 40% increase in FDI inflows during October 2014 to June 2015 over the corresponding period of the previous year.

Under the programme, the government has awarded a record 56 defence manufacturing permits to private sector entities in the past year, vis-a-vis 47 licences granted in the preceding three years.

"Several countries such as Japan, China, France and South Korea have announced their intention of making huge investments in India in various industrial and infrastructure projects," it said.