Govt upbeat on foreign funds flow

Upbeat about the FDI inflows into India, Union Commerce and Industry Minister Nirmala Sitharaman said, “At $29.6 billion, India has received the highest FDI in the last fiscal.”

“Since the introduction of the Consolidated FDI Policy in 2015, the foreign investments situation in India has been simplified. FDI, FPI and FIIs have become seamless, and thereby more sector-specific,” she said.

“With FDI growing at 38 per cent, compared with a 16 per cent dip globally, the confidence that India is instilling, across the globe, is only improving,” reiterated Sitharaman.

Delivering a special lecture on ‘FDI, FII and WTO’ at IIMB on Tuesday, she said Prime Minister Narendra Modi’s several country visits have fructified into sector-specific investments. FIIs ( Foreign Institutional Investments), on the other hand, have seen a progressive decline, she said.

On round-trip transactions camouflaging foreign investments, she said, “Round-tripping as a problem is very well recognised, and the government is actively taking measures to address them.”