India s FDI increased by just 1.5 in January Need Economic reform for

India-s foreign direct investment (FDI) grew by a just 1.5% to USD 2.18 billion in January, as per the data published by the Department of Industrial Policy and Promotion. However, for the April-January period of the current financial year, foreign investment inflows dropped by 2% to USD 18.74 billion compared to USD19.1 billion during the same period of the previous fiscal year.

During the April-Jan of this financial year, the highest FDI came in services (USD 1.80 billion), followed by pharmaceuticals (USD1.26 billion), automobiles (USD1 billion) and construction development (USD 966 million). Maximum FDI came from Mauritius (USD 4.11 billion) followed by Singapore (USD 3.67 billion), UK (USD 3.18 billion) and the Netherlands (USD 1.7 billion) during the same period.

India needs much higher foreign direct investment now to regain its economic growth as well to support its huge investment push in infrastructure sector. India needs nearly USD 1 trillion investments for its infrastructure sector. Also higher FDI will help to support domestic currency and help to reduce current account deficit as well.