Macroeconomic Indicators - India Gets FDI Worth over USD 3 Billion In Jan March Period.

FE reported that India received foreign direct investment worth USD 3.39 billion during January to March 2011 period, down by 32% YoY. In January to March 2010 period, the country received FDI worth USD 4.96 billion.

According to experts, the government should further streamline FDI policies and make the environment more investment-friendly to attract foreign investment.

Mr DK Joshi CRISIL Principal Economist said that "To attract more and more FDI into the country, the government needs to take strong policy action."

A government data said that the sectors that attracted FDI include services (financial and non financial), telecommunications, housing and real estate, construction activities and power. Mauritius, Singapore, the US, UK, Netherlands, Japan, Germany and the UAE, among other countries, are the major investors in India.

FDI inflows into India totaled USD 19.42 billion in 2010-11, down from USD 25.83 billion in 2009-10.

It may recalled that to attract more foreign direct investment, the Department of Industrial Policy and Promotion is taking steps like permitting the issuance of equity to overseas firms against imported capital goods and machinery.

Source : steelguru.com