FDI goes full throttle, spikes 114% in December
Foreign direct investment (FDI) in the country more than doubled to about USD 4.5 billion in December 2015. “FDI inflow to India recorded a whopping 114 percent growth for December 2015 vs December 2014,” the Commerce and Industry Ministry said in a tweet. In December 2014, India had received USD 2.16 billion. The major sectors that attracted foreign inflows include computer software and hardware, trading, services, automobile and telecommunications. India receives maximum FDI from Singapore, Mauritius, the Netherlands and Japan. In 2014-15, foreign fund inflows grew 27 percent to USD 30.93 billion as against USD 24.29 billion in 2013-14. The government has relaxed FDI norms in as many as 15 sectors, including Defence, single brand retail, construction development, civil aviation and LLPs, to boost FDI in the country. Foreign investments are considered crucial for India, which needs around USD 1 trillion in the next five years to overhaul its infrastructure sector such as ports, airports and highways to boost growth.