FDI inflows up 36 pc at $ 23.68 bn in Jan-Oct

NEW DELHI: Foreign direct investment in India surged by 36 per cent to $ 23.68 billion during the January-October period this year, notwithstanding uncertain global economic environment.

During January-October 201O, the country had attracted Foreign Direct Investment ( FDI) worth $ 17.36 billion.

Experts maintained that the government should further streamline policies and make the environment more conducive to FDI.

The sectors that attracted maximum FDI during the nine-month period include services (financial and non- financial), telecom, housing and real estate, and construction and power, according to the industry ministry's latest data.

Mauritius, Singapore, the US, the UK, the Netherlands, Japan, Germany and the UAE are the major sources of investment in India.

The FDI inflows totalled $ 19.42 billion in 2010-11 financial year, down from $ 25.83 billion in 2009-10.

Recently, the government further liberalised the FDI regime, allowing overseas investment in bee-keeping and share-pledging for raising external debt.

Besides, the conditions for FDI in construction of old-age homes and educational institutions have been eased. These will not be subject to the minimum and built-up area, capitalisation and lock-in period norms as applicable for the construction activities.