Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / Policy/  FDI inflows into India jump 18% to a record $46.4 bn in 2016 despite global fall
BackBack

FDI inflows into India jump 18% to a record $46.4 bn in 2016 despite global fall

Data released by the DIPP shows FDI inflows in 2016 were strongest in October with $6.2 billion inflows followed by $5.1 billion in September

The US remained the top source of FDI inflows in 2016 at $385 billion. Photo: ReutersPremium
The US remained the top source of FDI inflows in 2016 at $385 billion. Photo: Reuters

New Delhi: Foreign direct investment (FDI) inflows into India in 2016 calendar year jumped 18% to a record $46.4 billion, at a time global FDI inflows fell.

Data released by the Department of Industrial Policy and Promotion (DIPP) showed FDI inflows in 2016 were strongest in October with $6.2 billion inflows followed by $5.1 billion in September.

Global flows of FDI fell 13% in 2016 to an estimated $1.52 trillion as global economic growth remained weak and world trade volumes posted anemic gains, according to the latest UNCTAD Global Investment Trends Monitor.

“FDI recovery continues along a bumpy road. Particularly of concern is the sharp drop-off in manufacturing investment projects, which play such an important role in generating badly needed productivity improvements in developing economies," UNCTAD secretary-general Mukhisa Kituyi said in a statement on 1 February.

UNCTAD said FDI inflows into India fell 5% to $42 billion in 2016, yet India stood as the 10th most attractive destination in the world for FDIs. In comparison, China and Brazil received $139 billion and $50 billion FDI inflows respectively during 2016. The US remained the top source of FDI inflows in 2016 at $385 billion.

“Looking ahead, economic fundamentals point to a potential increase in FDI flows by around 10% in 2017," Dr. Kituyi said. “However, significant uncertainties about the shape of future economic policy developments could hamper FDI in the short-term."

The Economic Times first reported on Saturday that India’s FDI in April-December period rose 22% to $35.8 billion from the same period a year ago, quoting official DIPP data.

Mauritius remained India’s top source of FDI inflows at $12.8 billion followed by Singapore at $7.1 billion during April-December period. Services sector continued to attract highest investment of $7.5 billion followed by telecommunications sector which attracted $5.5 billion inflows during the first nine months of the financial year 2016-17.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 18 Feb 2017, 09:46 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App