Foreign Direct Investment into India touched the “highest ever” mark of $51 billion during the April-February period of last fiscal ended March 31, DIPP Secretary Ramesh Abhishek said today.
The Secretary of the Department of Industrial Policy and Promotion (DIPP) said a healthy business climate has been created in the county so that investments are promoted.
“We have had record inflows of FDI in this country, more than $51 billion from April to February (2015-16) and that is the highest ever,” he said here at a FICCI function.
In 2011-12, India had attracted FDI worth $46.55 billion. In 2014-15, it was $44.29 billion. This FDI includes equity, re-invested earnings and other capital.
Abhishek said ease of doing business was critical for creating a suitable business climate and the government is making efforts to improve it.
“The complex procedures and delays which were the bane of our system for so many decades are now being gradually dismantled. Enormous efforts are being made to make sure that the common citizen and business both have an easy time,” he said.
He also said protection of creativity and innovation is important to create a suitable climate in the country for technology to be developed and for technology to come from outside.
The FDI numbers show that the government has been able to create a suitable climate in which foreign investors feel confident that their interests are protected.
The government is committed to doing away with obstacles and improving the whole process, he said, adding that “we need a double-digit growth rate in the next three decades to improve the quality of life and eliminate poverty but that requires a lot of effort on the investment side, the IPR side and on other fronts”.