New Delhi: Foreign direct investment (FDI) into equity jumped 48 per cent after the launch of the ‘Make in India’ programme, the commerce and industry ministry said on Tuesday, July 14.
The ‘Make in India’ initiative, which seeks to make the country a global manufacturing hub, was launched on September 25 last year. Between October 2014 and April 2015, equity FDI rose 48 per cent, according to the ministry. Total FDI includes fresh equity inflows and reinvested earnings of foreign investors.
The ministry also said that in 2014-15, investment by foreign institutional investors (FIIs) rose 717 per cent to $40.92 billion. “These indicators showcases remarkable pace of approval being accorded by the government and confidence of investors in the resurgent India,” the ministry said.
FDI inflows under the approval route grew 87 per cent to $2.22 billion in the last fiscal.
“The increased inflows of FDI in India, especially in a climate of contracting worldwide investments, indicate the faith that overseas investors have imposed in the country’s economy and the reforms initiated by the government towards ease of doing business,” the ministry added.
The ‘Make in India’ initiative and its outreach to all investors have made a positive investment climate for India, it said.