FDI in India surges by 114% in December 2015

India has received $4.5 billion foreign direct investment (FDI), recording a whopping 114 percent growth during December 2015 which is more than double against the same period in 2014. During the period, the sectors which attracted FDI include computer software and hardware, trading, services, automobile and telecommunications. India receives maximum FDI from Singapore, Mauritius, the Netherlands and Japan. India had received $2.16 billion in December 2014.

Commerce and Industry Minister Nirmala Sitharaman has said that India is seen as one of the best places to invest, as Foreign investment in India is growing at 38 per cent even as it has witnessed a decline of 16 per cent at the global level.

In order to boost FDI in the country, the government has relaxed FDI norms in as many as 15 sectors, including Defence, single brand retail, construction development, civil aviation and limited liability partnerships (LLPs). India needs around $1 trillion foreign Investments in the next five years to overhaul its infrastructure sector such as ports, airports and highways to boost growth. In 2014-15, foreign fund inflows grew 27 percent to $30.93 billion as against $24.29 billion in 2013-14.