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Friday, July 10, 2020

India receives $64.37 bn FDI in FY19, $286 bn in 5 years

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India receives $64.37 bn FDI in FY19, $286 bn in 5 yearsNew Delhi, July 30 (IANS) Riding the foreign direct investment policy liberalisation and reforms in the last financial year, the country received $64.37 billion FDI in 2018-19.

According to a report by Department for Promotion of Industry and Internal Trade (DPIIT), it was up from $60.97 billion received in FY18.

“The country registered the highest FDI inflow of $64.37 billion during 2018-19. FDI worth $286 billion has been received in last five years,” DPIIT said in its annual report 2018-19.

“FDI brings in resources, the latest technology and best practices to push economic growth on to a higher trajectory,” it said. The central government has been carrying out FDI “liberalisation and simplification”.

The DPIIT, set up in 1995, was reconstituted in 2000 with the merger of the Department of Industrial Development. Earlier, DPIIT was earlier called Department of Industrial Policy & Promotion and was renamed DPIIT in January 2019.

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