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FDI up 27 per cent at $ 27.82 billion in Apr-Oct this fiscal

Foreign direct investment (FDI) into the country grew by over 27 per cent to USD 27.82 billion during April-October this fiscal. The FDI stood at USD 21.87 billion in April-October 2015-2016, according to the Department of Industrial Policy and Promotion (DIPP).

The main sectors which have attracted the foreign inflows include services, telecom, trading, computer hardware and software and automobile. India receives maximum FDI from Singapore, Mauritius, the Netherlands and Japan.

The inflows increased by 23 per cent to USD 55.6 billion in the last financial year. Foreign investments are considered crucial for India, which needs around USD 1 trillion for overhauling its infrastructure sector such as ports, airports and highways to boost growth.

A strong inflow of foreign investments will help improve the country’s balance of payments situation and strengthen the rupee value against other global currencies, especially the US dollar.

Further, the DIPP also said that trademarks filing has increased by around 10 per cent and its examination grew by about 250 per cent so far this fiscal till November. “Trademark pendency has come down to 3 months and to be 1 month by March 2017,” it said in a statement.

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