FDI inflows, 134.62 per cent growth touch $6.1 billion

By SiliconIndia   |   Thursday, 21 December 2006, 06:00 Hrs
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New Delhi: FDI inflows into the country to reach $ 6.1 billion as compared to $ 2.6 billion in the same period last year. The growth was registered to be 134.62 per cent increase in April-October 2006.

In comparison, in October 2006, FDI inflows stood at $ 1.7 billion as compared to $ 0.412 billion received in the same month last year.

"The FDI inflows of $ 6.1 billion for April-October 2006 do not include reinvested earnings. If reinvested earnings are included, the inflows for the period would exceed the total FDI received last year," informed Kamal Nath, Union Commerce and Industry Minister.

The five major sectors that received FDI inflows in October 2006 were - services, electrical equipment, cement and gypsum, drugs and pharmaceuticals and hotel and tourism.

Two-thirds of the investment ($ 1.1 billion) during October 2006 came from Mauritius. The major countries to contribute to the inflows are Netherlands, US and Cyprus.

The top inflows in October 2006 came from SDC Mauritius ($ 517 million, financial services through Indian partner Kappa industries), Oracle Global ($ 349 million, software), EMMAR MGF ($ 150 million, real estate), Cementrum IBV, Netherlands ($ 124 million, cement and gypsum), and Carraro SA ($ 25 million, agricultural machinery).

Nath fingered the fact that most of major investments made in October 2006 were first-mile investments. He felt confident of more investments from the investors in the next one-year.

As per reports from the Delhi regional office of RBI inflows of $ 727 million, accounting for 43 per cent of the total inflows during October 2006, were registered. Mumbai, Bangalore, Hyderabad and Chennai are the other major regions that have received FDI inflows.

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