Foreign investments in India decline 38% to $1.4bn

Foreign direct investment (FDI) into India declined to 8-month low of US $1.4 Billion in August, down 38% year-on-year, a Press Trust of India report said Sunday. The FDI had touched a low of US $1.10 Billion in December last year. In August 2012, India had attracted foreign investment worth $2.26 Billion. During the April-August period of 2013-14 fiscal, FDI has grown by a meagre 4% to $8.46 Billion, from $8.16 Billion in the first five months of 2012-13, a senior official in the Department of Industrial Policy and Promotion (DIPP) said. The sectors that helped in registering the hike during the five months include services ($1.19 Billion), pharma ($1.07 Billion), automobile ($661 Million) and construction ($592 Million). The maximum FDI during the period came from Singapore ($2.37 Billion), followed by Mauritius ($2.13 Billion), the Netherlands ($980 Million), Germany ($529 Million), and the US ($475 Million). According to industry experts there is a need to improve business environment in the country.