Manufacturing sector sees $16b FDI in 8 mths

Manufacturing sector sees $16b FDI in 8 mths

The government on Wednesday said the manufacturing sector has received FDI equity inflow worth $16.13 billion during April-November period of this financial year.

“The FDI equity inflow received in manufacturing sector during 2016-17 (up to November, 2016) is $16.13 billion. It shows an increase of 82% compared with the corresponding period of previous financial year ($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% in November 2016 ($6.07 billion) compared with $4.10 billion in the same period last year.

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

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