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Foreign direct investment (FDI) equity inflows into India grew by 21 per cent to $35.33 billion between April and October of this fiscal from $29.31 billion during the same period in the previous, according to the Department for Promotion of Industry and Internal Trade (DPIIT), which recently said total FDI rose by 11 per cent to $46.82 billion during the period from $42.06 billion in April-October 2019.
Sectors that attracted maximum foreign inflows include computer software and hardware, services, trading, chemicals and automobile.
The country attracts maximum funds from Singapore, the United States, Mauritius, the Netherlands, the the United Kingdom, France and Japan.
In the last one year, the government has eased FDI policy in several sectors including insurance intermediaries and defence.
"26 FDI applications marked to DPIIT have been disposed of in 2020," it added.
The department also said total 84 plots admeasuring nearly 554.73 acres have been allotted to companies with investment to the tune of over ₹6,100 crore.
Nine companies have also started their commercial production, DPIIT said.
An investment clearance cell (ICC) to facilitate and support businesses through a one-stop digital platform–the central single window system--is being set up and the platform is planned for launch with select states by April 15.
"This national portal will integrate the existing clearance systems of the various ministries/departments of Government of India and state governments without disruption to the existing IT portals of ministries," DPIIT said.
It added that DPIIT now aims to develop the first annual 'Industrial Park Rating System 2.0' that would widen its coverage and aim to bring in qualitative assessment further to the pilot phase.
Under this exercise, the assessment of industrial parks including private industrial parks with introduction of qualitative indicators for assessing these parks will be undertaken this year.
Fibre2Fashion News Desk (DS)
Foreign direct investment (FDI) equity inflows into India grew by 21 per cent to $35.33 billion in April-October this fiscal from $29.31 billion during the same period in the previous, according to the Department for Promotion of Industry and Internal Trade, which said total FDI rose by 11 per cent to $46.82 billion from $42.06 billion in April-October 2019.