Foreign Direct Investment (FDI) inflows into the country increased by 31 per cent to $24.8 billion during April-November, the Economic Survey said today.
In April-November 2014, FDI inflows stood at $18.9 billion.
With a view to liberalise and simplify the FDI policy and to provide ease of doing business climate in the country, the government has undertaken various reforms, the Survey added.
It said that FDI inflows have increased in sectors like computer software and hardware, services, trading, automobile industry, construction activities, chemicals and telecommunications.
“Out of FDI equity inflows of $24.8 billion during 2015-16 (April-November), more than 60 per cent have come from two geographically small countries named Singapore and Mauritius,” the Survey said.
Further, it said after the launch of ‘Make in India’ initiative in September 2014, there is nearly 40 per cent increase in FDI inflows during October 2014 to June 2015 over the corresponding period of the previous year.
Under the programme, the government has awarded 56 defence manufacturing permits to private sector entities in the past year, vis-a-vis 47 licences granted in the preceding three years.
“Several countries such as Japan, China, France and South Korea have announced their intention of making huge investments in India in various industrial and infrastructure projects,” it said.