India Received Highest-Ever FDI Of Over $64 Billion In 2018-19
“FDI brings in resources and best practices to push economic growth on to a higher trajectory,” the Department for Promotion of Industry and Internal Trade.
Riding on the foreign direct investment policy liberalisation and reforms in the last financial year, India received $64.37 billion in investments 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 the previous financial year.
“The country registered the highest FDI inflow of $64.37 billion during 2018-19. Foreign Direct Investment (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 “liberalisation and simplification” of FDI.
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.
SOURCE – NDTV