FDI inflow increases by 18% to $46 billion in 2016: DIPP
Posted on:27 Feb 2017 09:21:14
Free Current Affairs to Your Email
27 February 2017 Current Affairs: According to data released by the Department of Industrial Policy and Promotion (DIPP), India attracted $46 billion foreign direct investment (FDI) in 2016. It shows that, India’s FDI grew by 18% in 2016 as compared to $39.32 billion FDI inflows in 2015.
The main sectors which attracted the highest FDI inflows included services, telecom, trading, computer hardware and software and automobile. Bulk of the FDI came in from Singapore followed by Mauritius, Netherlands and Japan.
Foreign investments are considered crucial for India as it needs around 1 trillion dollars for overhauling its infrastructure sector such as ports, airports and highways to boost growth.
Strong inflow of foreign investments mainly helps to improve the country’s balance of payments (BoP) situation and also strengthen the rupee value against other global currencies, especially dominant US dollar.
To attract inflow of foreign investments, the central government has announced several measures including liberalisation of FDI policy and improvement in business climate.
In the Budget 2017-18, Finance Minister further announced relaxation of foreign investment norms and also abolished Foreign Investment Promotion Board (FIPB).
FreshersLive - No.1 Job site in India. Here you can find latest 2018 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail.