A file photo of Commerce and Industry Minister Piyush Goyal
A file photo of Commerce and Industry Minister Piyush Goyal

FDI rises 3% to $6.95 biilion in April: Goyal

  • Piyush Goyal said the country recorded highest-ever total FDI inflow of $64.38 billion in 2018-19, which is 6% higher as compared to 2017-18
  • The Commerce minister said 59 FDI proposals were approved in 2018-19 and five in April this fiscal

New Delhi: Foreign direct investments (FDI) into the country grew 3% to $6.95 billion in April, Parliament was informed on Wednesday.

Commerce and Industry Minister Piyush Goyal said that during 2018-19, the country recorded the highest-ever total FDI inflow of $64.38 billion, which is 6% higher as compared to 2017-18.

"As per data available for April 2019, an amount of $6.95 billion has been reported as FDI inflows, which is 3% more compared to April 2018 ($6.77 billion)," he said in a written reply to the Lok Sabha.

He also said 59 FDI proposals were approved in 2018-19 and five in April this fiscal.

In a separate reply, he said the Enforcement Directorate is conducting investigation in 581 cases under the Foreign Exchange Management Act, 1999, (FEMA) for alleged violation of FDI norms.

"Disclosure of other details of these cases may not be in large public interest as the same may adversely impact the ongoing investigations," he said.

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