FDI in November up by 55% to $ 1.63 billion

NEW DELHI: After declining for three months in a row, foreign direct investment ( FDI) in India grew by about 55 per cent to $ 1.63 billion in November last year.

According to the Department of Industrial Policy and promotion (DIPP), FDI in November 2012 stood at $ 1.05 billion.

However, during April-November 2013, the foreign inflows dipped by 2 per cent to $ 15.45 billion, the data said.

This figure stood at $ 15.84 billion during April-November 2012.

Among different sectors, in the first eight months of the current fiscal, services received highest FDI ($ 1.46 billion) followed by pharmaceuticals ($ 1.25 billion), construction development ($ 889 million) and automobile ($ 838 million).

Mauritius topped the chart with $ 3.41 billion foreign direct investment in India during April-November 2013, followed by Singapore ($ 3.05 billion), UK ($ 3.12 billion) and the Netherlands ($ 1.5 billion).

India's economic growth fell to a decade's low of 5 per cent for the entire 2012-13 fiscal. The country needs foreign investments to help regain its growth momentum.