FDI up to $7.5b in 2005-06

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Express news service Tags : Posted: Thursday , Apr 20, 2006 at 0014 hrs NEW DELHI::

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Foreign Direct Investment inflows registered the single-largest jump in 2005-06, shooting up to $7.5 billion, over 50 per cent higher than the FDI inflows in 2004-05 of $5.3 billion. Commerce and Industry Minister Kamal Nath is hopeful that the growth rate of FDI flows will be maintained in 2006-07 and the country would receive at least $10 billion in investments, if not more.

While releasing a compendium on India’s FDI policy, Nath said, ‘‘Our FDI policy is aimed at producing additional economic activity, not at replacing or reducing existing activity.’’

Another healthy sign in the FDI figures is that 75 per cent of the inflows in 2005-06 went into the manufacturing sector. This news comes ahead of the Hannover Engineering Fair, where India is partnering Germany. ‘‘It’s not just an engineering fair, but will take forward the ‘India Everywhere’ campaign at Davos,’’ Nath pointed out.

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