New Delhi: Foreign direct investment (FDI) inflows into India registered an increase of 25 per cent year-on-year (y-o-y), the highest level in the past six months, to record US$ 2.32 billion in April 2013.
The highest levels of FDI inflows was registered in the hotels and tourism sector (US$ 2.32 billion), followed by pharmaceuticals (US$ 987 million), services (US$ 238 million), chemicals (US$ 51 million) and construction sector (US$ 32 million), in April 2013 .
Singapore, alone was responsible for FDI inflows worth US$ 1.29 billion in April 2013, followed by Mauritius, the Netherlands and the US with FDI inflows worth US$ 355 million, US$ 173 million and US$ 149 million respectively. FDI inflows aggregated to US$ 22.42 billion in 2012-13.
In order to provide impetus to the FDI flows, the Government of India has administered numerous reform initiatives, since September 2012 including liberalising FDI norms in civil aviation, power exchanges and retail. The Ministry of Finance has also proposed changes in FDI caps for various sectors, including tea, media, natural gas and petroleum. An increase in FDI will help support the rupee against US dollar.
It is estimated that India will need about US$ 1 trillion between 2012-13 to 2016-17 to fund infrastructure such as airports, highways and ports to boost growth.
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