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Indian farm sector receives Rs 553 crore FDI in April-February FY16

27 Apr 2016 Evaluate

Foreign direct investment (FDI) inflow in agriculture sector of the country has increased to Rs 553.14 crore during the April-February period of the fiscal year 2015-16. Minister of State for Agriculture Mohanbhai Kundariya has said that this is much higher than Rs 365.31 crore in the entire 2014-15 fiscal.

According to the government data, in the financial year 2013-14 FDI in agriculture sector stood at Rs 559.66 crore and for financial year 2012-13 it stood at Rs 875.90 crore.  FDI is permitted up to 100 per cent under automatic route in specified activities of agriculture and allied activities. Also, 100 per cent FDI is allowed in plantation sector namely tea, coffee, rubber, cardamom, palm oil tree and olive oil tree.

India has received $51 billion FDI during the April-February period of last fiscal 2015-16. India’s record inflows of FDI has touched the 'highest ever' mark during the period. The FDI numbers indicates that the government has been able to create a suitable climate in which the foreign investors feel confident that interest is protected.

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