Foreign direct investment (FDI) equity inflows into India rose 22 per cent during April-December 2016 to $35.84 billion, compared to $29.44 billion in April-December 2015. However, the increase was at a higher clip of 40 per cent between the comparable nine-month period of 2015 and 2014. Mauritius and Singapore were the top two sources for FDI inflows, accounting for 50 per cent of the total amount.
FDI inflows at $29.44 billion marked a higher rate of growth when compared to $21.04 billion during the April-December 2014 period, statistics released by the Department of Industrial Policy and Promotion (DIPP) showed.
The figures are provisional, according to the DIPP.
When the figures are compared for calendar year (CY) 2016 and 2015, the inflows at $46.04 billion in CY2016 represent 18 per cent growth over $39.32 billion in CY2015.
For the quarter ended December 2016 that saw heigtened economic uncertainty triggered by demonetisation, FDI equity inflows stood at $14.22 billion as against $12.81 billion in the corresponding period in 2015.
However, the inflows dropped from $6.19 billion in October 2016 to $4.67 billion next month and $3.34 billion in December 2016.
After Mauritius and Singapore, Japan and the UK were the other top sources of FDI inflows, each accounting for eight per cent.
On Friday (February 24), Union Finance Minister Arun Jaitley left for the UK where he is scheduled to meet his counterpart besides business delegates of the UK-India Business Council (UKIBC). He will also deliver a lecture on "Transforming India: Vision for the Next Decade" at the London School of Economics. His visit will last five days.
From a sectoral viewpoint, the services sector got 18 per cent, followed by construction (comprising housing and infrastructure) at eight per cent. Telecom and computer (both hardware and software) accounted for seven per cent while the automobile sector attracted five per cent of the total inflows during the April-December 2016 period, according to the DIPP data.
The cumulative FDI equity inflows into India from April to December 2016 was $324.35 billion.
