FDI in manufacturing sector up 82 per cent in Apr-Nov period: Nirmala Sitharaman

NEW DELHI: The government today said the manufacturing sector has received FDI equity inflow worth USD 16.13 billion during April-November period of this financial year.

"The FDI equity inflow received in manufacturing sector during 2016-17 (upto November, 2016) is USD 16.13 billion. It shows an increase of 82 per cent compared to corresponding period of previous financial year (USD 8.85 billion)," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

She also said that FDI has increased by 48 per cent in November 2016 (USD 6.07 billion) compared to 4.10 billion in the same period last year.

In a separate reply she said, to promote foreign direct investment, government has put in place an investor-friendly policy, wherein except for a small negative list, most sectors are open for 100 per cent FDI under the automatic route.

"Further, the policy on FDI is reviewed on an ongoing basis, to ensure that India remains attractive and investor friendly destination," she said.

Changes are made in the policy after having intensive consultations with stakeholders including apex industry chambers, associations, representatives of industries and other organisations taking into consideration their views and comments, the minister added.