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Interim Budget 2019: India received $239 billion FDI in last 5 yrs, says FM

The government has relaxed foreign investments norms in several sectors, including single-brand retail, defence, airlines and food processing

Topics
Budget 2019  |  Railway Budget  |  Piyush Goyal

Press Trust of India  |  New Delhi 

fdi

India has received massive worth $239 billion in the last five years on account of a stable and predictable regulatory regime, growing economy and strong fundamentals, Finance Minister said Friday.

"Due to a stable and predictable regulatory regime, a growing economy and strong fundamentals, India could attract massive amount of during the last five years, as much as $239 billion worth received as

"This period also witnessed a rapid liberalisation of the policy allowing most to come through the automatic route," the minister said in his budget speech for 2019-20.

The government has relaxed foreign investments norms in several sectors, including single-brand retail, defence, airlines and food processing.

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The main sectors that receive the maximum foreign inflows include services, computer software and hardware, telecommunications, trading, construction, automobile, and power.

The top sources of FDI include Mauritius, Singapore, Netherlands, the US and Japan.

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While several sectors attract foreign investments through the automatic approval route, certain segments need government approval.

FDI is important as India would require huge investments in the coming years to overhaul its infrastructure sector to boost growth.

Healthy growth in foreign inflows helps maintain balance of payments and value of the rupee.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, February 01 2019. 11:45 IST