FDI Up 29% Post Make in India Initiative: Nirmala Sitharaman


New Delhi: Foreign Direct Investment in the country increased by 29 per cent for the 15-month period — ended December last year — after the launch of ‘Make in India’ initiative, Parliament was informed on Wednesday.

Launched on September 25, 2014, the initiative aims at promoting India as an important investment destination and a global hub for manufacturing, design and innovation.

“FDI inflow has increased 29 per cent during October 2014 to December 2015 (15 months after ‘Make in India’) compared to the 15 months period prior to the launch of this initiative,” Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

In a separate reply, she said during April-January 2016, the government has received 424 FDI proposals. Out these, 285 proposals have been disposed of.

In a separate reply about FDI in e-commerce, the minister said foreign investment in business to customer (B2C) e-commerce activities has been “opened in a calibrated manner” and entity is permitted to undertake retail trading through e-commerce under certain circumstances.

She said that a manufacturer is permitted to sell its products manufactured in India through e-commerce retail and a single brand retail trading entity operating through brick and mortar stores, is permitted to undertake retail trading through e-commerce.

An Indian manufacturer is also allowed to sell its own single brand products through e-commerce retail.

In a separate reply, she said the DIPP is implementing the eBiz project which is envisaged to work as a single portal for providing all central and state services.

“20 central and 30 state government services have already been integrated on the portal,” the minister added.