With the silver backing of the economy, foreign direct investment (FDI) equity flows for the period April-October 2020-21 increased 21% from the same period last year to $ 35,330 million. I did. Investment and Internal Trade (DPIIT).
The figures show that the FDI stock flow in October was about $ 5.3 billion, as the inflow from April to September 2020 was reported to be $ 30 billion. This was higher than the $ 2.9 billion recorded last month, but lower than the unusually high FDI equity investment of $ 17.48 billion in August 2020.
During the first seven months of 2020-21, total FDI inflows increased 11% to $ 46,820 million.
“FDI plays an important role in the process of globalization, is a major driver of economic growth and a source of debt-free funds for India’s economic development. Implementing possible and investor-friendly FDI policies. Was a government effort, “said a memo listing the highlights of DPIIT in 2020.
Standard operating procedures have been modified to facilitate the processing of FDI proposals and uploaded to the government website. He added that as many as 26 FDI applications marked DPIIT were disposed of in 2020.
So far, companies investing more than Rs 16.10 billion, including investors such as Hyosung (Korea), NLMK (Russia), Haier (China), TATA Chemicals and AMUL, have been allocated 554.73 acres in a total of 84 plots. Has been done. The note pointed out. As many as nine companies have also started commercial production, he added.
The project development cell is currently set up in 29 government ministries, each headed by a joint secretariat-level node officer, he said.
The only glorious point: FDI capital will increase by 21% from April to October
https://www.thehindubusinessline.com/economy/lone-bright-spot-fdi-equity-flows-up-21-in-april-oct/article33465875.ece The only glorious point: FDI capital will increase by 21% from April to October