FDI inflows to hit all-time high this fiscal: report

Mumbai: India will attract the highest-ever inflow of foreign direct investment (FDI) in the current  fiscal on the back of a slew of policy reforms announced by the new government, said  a senior DIPP official. "I am sure we would achieve an all-time high in FDI  inflows in FY15 given the extra focus on the same we are   giving," Joint Secretary in the Department of Industrial Policy and Promotion, Atul Chaturvedi said at an event   organised by Ficci here last evening.  He, however, declined to give a target for the inflows, which the government is expecting for the fiscal.  

Chaturvedi said the highest ever FDI flows received by the country were in FY12 at USD 35.12 billion while in four months of this fiscal alone we have crossed USD 10.75 billion."We are looking at increasing FDI with all these   promotional measures and promoting the country as an   investment destination," he said. It can be noted that the new government has undertaken a   slew of measures, including upping the FDI in defence and insurance sectors to 49 per cent and also having a clause to   make it 100 per cent in some cases, and allowing foreign investment in railways in all areas excluding operations, among others.  

These measures have been complimented with high profile state visits like Prime Minister Narendra Modi's trips to Japan and the US, where a strong pitch for attracting investments have been made. The government has also initiated campaigns like the high   decibel 'Make in India' initiative which is directed towards   making the country a manufacturing base, which will also involve attracting higher foreign direct investments.