FDI in mining jumps to $ 657.46 million in April-December period

NEW DELHI: The FDI in the mining sector jumped to a whopping USD 657.46 million in the April-December period of this fiscal as compared with just USD 12.73 million in the entire 2013-14 fiscal, Parliament was informed today.

"In 2012-13, the country had received USD 57.89 million FDI in the sector," Minister of State for Mines and Steel Vishnu Deo Sai said in a written reply to the Lok Sabha.

However, in 2011-12, FDI was USD 142.65 million. Healthy flows into several sectors including mining has helped the country to attract USD 21 billion FDI during April-December this fiscal compared with USD 16.56 billion in the same period last year.

The other sectors which received FDI during the period include services, power, automobile and chemicals.

India is estimated to require about USD 1 trillion between 2012-13 to 2016-17 to fund infrastructure such as ports, airports and highways to boost growth. PTI