STATUS OF FDI IN CURRENT FISCAL
Date : 29 Jul 2009
Location : New Delhi
FDI equity inflow in the country increased from US $ 5.5 billion in 2005-06 to US $ 27.31 billion in the year 2008-09. Further, the FDI equity inflows in 2007-08 were US $ 24.58 billion and increased to US $ 27.31 billion in 2008-09, despite the economic slowdown, showing a growth of 11% over the previous financial year. No target has been fixed for the current financial year. However, for the months of April and May 2009 FDI inflows of US $ 4.434 billion have been reported. Various assessments/ studies have shown that India continues to be one of the most attractive destinations for investments worldwide in the period 2009-2011.
Foreign Direct Investment (FDI) has the potential of enhancing economic activity and employment in the country by complementing and supplementing domestic investment. Additional investments brought in through FDI, over and above investments possible with the available domestic resources, assist in providing additional employment opportunities. FDI also plays a vital role in the upgradation of technology, skills and managerial capabilities.
This information was given by Shri Jyotiraditya M Scindia, Minister of State for Commerce & Industry, in a written reply in the Rajya Sabha