AUGUST 30, 2018
The foreign fund inflows in April-June 2017-18 stood at USD 10.4 billion, the Department of Industrial Policy and Promotion data showed.
Singapore was the largest source of FDI during April-June 2018-19 with USD 6.52 billion, followed by Mauritius (USD 1.5 billion), Japan (USD 874 million), the Netherlands (USD 836 million), the UK (USD 648 million), and the US (USD 348 million).
A growth in foreign investment assumes significance against the backdrop of widening current account deficit and trade deficit.
The country’s current account deficit (CAD) is likely to touch 2.8 per cent of GDP in 2018-19 on surge in crude oil prices, a report by SBI Research projected.
FDI had increased at a five-year low growth of 3 per cent at USD 44.85 billion in 2017-18. An UNCTAD report, too, had stated that the foreign direct investment in India decreased to USD 40 billion in 2017 from USD 44 billion in 2016 fiscal.
Courtesy: Economic Times