FDI inflows rise a mere 3.5% to to $4.4 B in 2002
By siliconindia   |   Tuesday, 11 February 2003, 20:30 IST
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India's foreign direct investment (FDI) inflows during the calendar year 2002 increased by a mere 3.5 per cent to $4.43 billion despite Government's aggressive initiatives to liberalize the economy.

NEW DELHI: As per data compiled by the Industry Ministry, total FDI inflows during January-December 2002 was pegged at $4.43 billion compared to $4.28 billion in 2001. Total FDI inflows during 2002 also includes $208.34 million as control premium paid to the Government of India by Suzuki Motor Corporation of Japan. The amount was paid by Suzuki towards shares issued by them on renouncing of rights by the Government in the joint venture car company Maruti Udyog Ltd. During the month of December, India garnered FDI inflows worth $666.3 million compared to $463.2 million in the previous year. The FDI inflows during the month includes an amount of $82.5 million received by Bharti Televentures under private placement made with the approval of the Foreign Investment Promotion Board (FIPB).

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