Few days after the United Nations Conference on Trade and Development (UNCTAD) showing drop in India’s foreign direct investment (FDI) inflows during 2017, Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek has said that FDI in the country witnessed a growth during 2017-18 to reach at $61.96 billion.
As per DIPP, FDI increased by about 3 per cent during 2017-18 compared to the $60 billion inflows reported in the previous fiscal. DIPP Secretary also highlighted the pace of expansion of foreign inflows during the four years of the Modi government, saying that FDIs jumped to $222.75 billion from $152 billion in the previous four-year period.
However, according to the UNCTAD report, India’s foreign direct investment (FDI) inflows dropped to $40 billion in 2017 as compared to $44 billion in 2016. It also indicated that in South Asia, FDI inflows contracted by 4 percent to $52 billion, due to a fall in inflows to India.