Oct. 15 – India’s Department of Industrial Policy and Promotion says that foreign direct investment (FDI) to India from 2000 until July this year has already passed the US$100 billion mark.
In total, FDI inflows during that period reached US$100.33 billion. In the first four months of this year alone FDI amounted to US$10.49 billion with major investment coming from the Singapore, United States, United Kingdom and the Netherlands.
Rajiv Kumar, CEO and director of economic think-tank ICRIER was quoted by Press Trust of India as saying: “This is a reflection that India is being taken as a safe and dynamic destination for investment as the economy is growing at 6 per cent. The investors also want to diversify their portfolio from China by investing here.”
An estimated 44 percent of the FDI inflows were invested into India via Mauritius because of India’s double taxation avoidance treaty with the country. India’s services sector remains the major driver at 23 percent of cumulative FDI inflows. The other top sectors include computer software, hardware, telecommunication and real estate.
