FDI in April-October dips 15% to $12.6 billion

NEW DELHI: Foreign direct investment ( FDI) in India declined by about 15 per cent to $12.6 billion (Rs 74,971 crore) during April-October this year, Parliament was informed today.

According to the Department of Industrial Policy and Promotion (DIPP), FDI in the same period last year was $14.78 billion.

"India has received total FDI equity inflow of an amount of Rs 74,971 crore from April, 2013 to October, 2013," Minister of State for Commerce and Industry E M Sudarsana Natchiappan said in a written reply to the Rajya Sabha.

Among different sectors, food processing industries recevied $2.14 billion, services $1.36 billion, pharmaceuticals USD 1.08 billion, automobile $784 million and construction development $699 million.

The Minister said that the government reviews FDI policy on an ongoing basis, to ensure that India remains an attractive and investor-friendly destination.

"In a recent review of the policy, government amended the sectoral caps and/or entry routes in some sectors viz. petroleum & natural gas; commodity exchanges; power exchanges; stock exchanges; single brand product retail trading and telecom services," he added.