India got $397 million FDI for agri promotion in last 4 years

NEW DELHI: India has received foreign direct investment (FDI) of $397.08 million in the last four years for promotion of its agriculture sector, with maximum inflows from Mauritius followed by Singapore and Germany.

In a written reply to the Lok Sabha, Agriculture Minister Radha Mohan Singh said foreign investment of $397.08 million was received for promoting the country's agriculture sector during April 2012 and February 2016.

Maximum inflow of $141.69 million FDI was from Mauritius, followed by Singapore $119.95 million, Germany $25.74 million, France $20.71 million and the US $20.60 million in the said period, he said.

The minister placed the FDI inflow data of 30 countries before the Upper House.

That apart, Singh said, India in the last three years has signed four memorandums of understanding (MoUs) with Morocco, Vietnam, Mongolia and Armenia for extending cooperation in the farm sector.

The approval for the signing of an MoU for cooperation with Lithuania has also been secured, he said.

Under the MoU signed with Israel, the minister said the action plan for 2015-18 is under way and centres of excellence for vegetables and fruits and integrated bee keeping development, among others, will be set up in 21 states.

The technology transfer and training is provided by Israeli experts through their visits to India. Indian scientists and experts also visit Israel to get training before imparting technology at the field level in areas of energy-efficient green houses, precision irrigation and recycling of domestic waste for irrigation, among others, he added.