INSUBCONTINENT EXCLUSIVE:
India declined for the first time in the last six years in 2018-19, falling by 1 per cent to $44.37 billion as overseas fund inflows
subsided in telecom, pharma and other sectors, official data showed
According to the latest data of the Department for Promotion of Industry and Internal Trade (DPIIT), FDI in 2017-18 was a record $44.85
billion.Last time it was in 2012-13 when foreign inflows had registered a contraction of 36 per cent to $22.42 billion compared to $35.12
billion in 2011-12.Since 2012-13, the inflows had been continuously growing and reached a record high in 2017-18.According to the data, FDI
inflows in telecommunication, construction development, pharmaceuticals and power sectors declined significantly in 2018-19.Foreign direct
investment in telecommunication dropped to $2.67 billion in 2018-19 from $6.21 billion in 2017-18, in construction development to $213
million ($540 million), in pharmaceuticals to $266 million ($1 billion) and in the power sector to $1.1 billion ($1.62 billion).Sectors that
recorded a growth in FDI includes services ($9.15 billion), computer software and hardware ($6.41 billion), trading ($4.46 billion), and
year, accounting for $16.22 billion inflows
India has received $8 billion FDI from Mauritius.The other major investors in the country includes Japan, the Netherlands, the UK, the US,
Germany, Cyprus, the UAE and France.FDI is important as India would require huge investments in the coming years to overhaul its
infrastructure sector to boost growth
