TIDBITS

FDI inflows hit record high of $60.08 billion

By IndianMandarins- 20 May 2017
649

fdi-inflows-hit-record-high-of-60-08-billion Foreign Direct Investment (FDI) inflows into the country scaled a new high of $60.08 billion in 2016-17, climbing up 8 percent over the previous high of $55.6 billion posted in 2015-16, according to figures released by the Department of Industrial Policy & Promotion on Friday. "Increased FDI inflows in the country are largely attributed to intense and bold policy reforms the government undertook to bring pragmatism in the FDI regime. The country has now become the topmost attractive destination for foreign investment," the release said. In the last three years since the NDA government came to power, 21 sectors covering 87 areas of FDI policy have undergone reforms. "A new direction was given to FDI policy reforms in 2014 itself when conservative sectors such as rail infrastructure and defense were liberalized. This was accompanied by reforms in other sectors such as medical devices and construction development," the release added.

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