Giving a reason to cheer to the new government, the Department of Industrial Policy and Promotion (DIPP) has said that India will receive the highest-ever inflow of foreign direct investment (FDI) in the current financial year, attracted by the policy reforms announced by the National Democratic Alliance (NDA) government.
While the highest so far FDI received by the country was in 2011-12 at $35.12 billion, in the four months of this fiscal alone inflows have crossed $10.75 billion and in June only FDI inflow jumped by 34 percent to $1.92 billion.
The new government, since its formation has been taking all sorts of measures to boost FDI inflow in the country. It has raised FDI limit in defence manufacturing and also cleared the long-delayed 100 percent FDI in railways, while there is a debate going on regarding 100 percent FDI in the insurance sector.
Atul Chaturvedi, joint secretary in the DIPP said that we would achieve an all-time high in FDI inflows in FY15 given the extra focus on the same we are giving and looking at increasing FDI with all these promotional measures and promoting the country as an investment destination. He, however, declined to give a target for the inflows, which the government is expecting for the fiscal.
