India FDI Jumps 37%

Foreign direct investment into India grew by 37% to $10.4 billion during the first quarter of the current fiscal, DIPP said Tuesday, PTI reported. According to the figures of the Department of Industrial Policy and Promotion, India had received $7.59 billion FDI during April-June 2016-17. The main sectors which attracted the highest foreign inflows include services, telecom, trading, computer hardware and software and automobile. Bulk of the FDI came from Singapore, Mauritius, the Netherlands and Japan. A strong inflow of FDI will help improve the country’s balance of payments situation and strengthen the rupee value against other global currencies, especially the US dollar.