FDI dips 40 per cent in March to $2.11 billion, lowest in four months

Foreign direct investment (FDI) in India declined by 40 per cent year-on-year to $2.11 billion in March 2015, the lowest in the last four months of 2014-15 fiscal.

Previously, in November 2014 the FDI was the lowest at $1.53 billion.

FDI in India was at $3.53 billion in March 2014.

However, during the 2014-15 financial year, foreign fund inflows grew 27 per cent, year-on-year, to $30.93 billion as against $24.29 billion in 2013-14, according to the data of Department of Industrial Policy and Promotion (DIPP).

Amongst the top 10 sectors, services received the maximum FDI of $3.25 billion in 2014-15, followed by telecommunication ($2.89 billion), automobiles ($ 2.57 billion), computer software and hardware ($2.20 billion) and pharmaceuticals ($1.52 billion).

During the entire financial year, India received the maximum FDI from Mauritius ($ 9.03 billion), followed by Singapore ($6.74 billion), the Netherlands ($3.43 billion), Japan ($2.08 billion) and the US ($1.82 billion).

In 2013-14, FDI stood at $24.29 billion as against $22.42 billion a year earlier.

India is estimated to require around $1 trillion investment over five years to overhaul its infrastructure sector, including ports, airports and highways to boost growth.

The government has relaxed FDI norms in various sectors, including insurance, railways and medical devices, to boost FDI in the country.