FDI Up By 16 Percent In April to $ 27.1 Billion
FDI up by 16 percent in April to $ 27.1 billion. Foreign direct investment (FDI) in the country increased by 16 percent to $ 27.1 billion during April-August this year. The Ministry of Commerce and Industry gave this information on Tuesday.
The ministry said that during April-August last year, the country had invested $ 23.35 billion. According to the statement of the ministry, the total foreign direct investment, including the reinvested earnings, increased by 13 percent to $ 35.73 billion during the period under review.
According to the statement, “It is the highest Foreign direct investment to date in the first five months of a financial year and is 13 percent higher than the first five months of 2019-20. It was $ 31.60 billion in the first five months of FY 2019-20.
Total FDI inflows rose 55 per cent from 2014 to 2020 to $ 358.29 billion as compared to $ 231.37 billion in 2008 to 2014.
Commerce and Industry Minister Piyush Goyal wrote on Twitter, “India is a favorite destination for foreign direct investment led by Prime Minister Narendra Modi.” He said that FDI has increased by 55 percent in the last six years.
In the current financial year, FDI inflows increased by 13 percent during April-August despite the Kovid-19 crisis. This is the highest in the first five months of any one financial year.
The ministry said, “FDI is a key element to accelerate economic growth and is an important source of finance without debt.” It has been the endeavor of the government to make FDI policy smooth and investor friendly.
Along with making FDI investor friendly, it was also an attempt to remove policy bottlenecks that were hindering investment flows in the country.
According to the statement, FDI grew well due to the steps taken in this direction in the last six years. According to the Ministry, FDI inflows into the country have increased due to steps taken to improve policies in terms of FDI, ease of investment and ease of doing business.
Emphasis on local manufacturing
It was said on behalf of Gionee that our company has developed this product by the Indian based team.
The company is completely restricted to local manufacturing. According to the company’s statement, the phone’s interface has been developed keeping in mind the needs of Indians.
