rediff.com
News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff.com  » Business » FDI shoots up 111% at $4.66 bn in May
This article was first published 12 years ago

FDI shoots up 111% at $4.66 bn in May

Last updated on: July 5, 2011 08:16 IST


Foreign direct investment inflows saw a whopping 111 per cent increase in May at $4.66 billion, the second highest monthly inflows in 11 years, marking revival of investor confidence in the Indian economy.

In May 2010 the foreign direct investment was $2.21 billion.

. . .

FDI shoots up 111% at $4.66 bn in May


For the April-May period of the current fiscal, the FDI went up by a huge 77 per cent to $7.78 billion from $4.39 billion in the corresponding period last year.

In the previous fiscal, the equity inflows through FDI had dipped 25 per cent amid uneven global recovery from the recession of 2008.

. . .

FDI shoots up 111% at $4.66 bn in May


"The recent trend of dip in FDI inflows appears to have been reversed in the current financial year. . . Recent investments (announcements) like $ 7 billion BP-Reliance tie-up are indicative of a positive trend," a statement from the Commerce and Industry Ministry said on Monday.

. . .

FDI shoots up 111% at $4.66 bn in May


It said the government has taken various measures to boost confidence of global investors and streamlined the procedures.

"The approvals given to Posco and to the Cairn-Vedanta acquisition are also likely to substantially increase FDI this year. . . " the statement said.

© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.