FDI in 2005-06 pegged at $8 B

By agencies   |   Thursday, 28 July 2005, 07:00 Hrs
Printer Print Email Email
NEW DELHI: The government said that the foreign direct investment flows into India will go up by more than 100 percent in 2005-06 to cross $ 8 billion.

“The FDI inflows would surpass the eight billion mark in 2005-06 as against 3.75 in 2004-05,” said Commerce and Industry Minister Kamal Nath.

He said in the first two months of this fiscal FDI has gone up by a whopping 117 percent year-on-year to $ 912 million from $ 421 million in April-May 2004.In 2004-05, FDI had grown by 42 percent to $ 3.75 billion. Since August 1991 the cumulative FDI approvals stand at $ 67.77 billion while the inflows stand at $ 34.26 billion. Most of the FDI in to India has been routed through Mauritius followed by U.S., Netherlands, Japan and U.K.

While $ 9.7 billion in FDI came from Mauritius, $ 4.7 billion came from the U.S., $ 1.9 billion from the Netherlands, $ 1.9 billion from Japan and $ 1.7 billion from the U.K.

Mauritius accounted for 36 percent of the FDI since 1991 U.S. for 17 percent, Netherlands and Japan for 7.0 percent each and the U.K. six percent.

As much as 15 percent of FDI has flowed into electrical and electronics ($ 4.1 billion) followed by transportation (11 percent or $ 3.0 billion), telecom (10 percent or $ 2.7 billion), services (9.3 percent or $ 2.6 billion) and fuels and power (9.0 percent or $ 2.5 billion).

Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..