Government has got a reason to cheer with foreign direct investment (FDI) in India surging about 63 percent to $3.28 billion in February, 2015, compared to FDI of $ 2.01 billion in same period last year. Government has already relaxed FDI norms in various sectors, including insurance, railways and medical devices, to boost FDI in the country, as it require around $ 1 trillion investment over five years to overhaul its infrastructure sector.
As per the data of Department of Industrial Policy and Promotion (DIPP), during the April-February period of 2014-15, the foreign fund inflows grew by 39 percent, year-on-year, to $ 28.81 billion, compared to inflows of 20.76 billion during the same period a year ago.
Sector wise, services received the maximum FDI of $ 2.88 billion in the 11-month period of 2014-15, followed by telecommunication worth $ 2.85 billion, automobiles $2.42 billion, computer software and hardware $2.04 billion and pharmaceuticals worth $1.30 billion.
Region wise, India once again received the maximum FDI from Mauritius worth $8.44 billion, followed by Singapore $6.42 billion, the Netherlands $ 3.29 billion, Japan $ 1.72 billion and the US worth $1.69 billion.