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![[AP]](http://thebricspost.com/wp-content/uploads/2013/05/india-economy-300x169.jpg)
FDI into India increased to $3.95 billion in the April-May period [AP]
The country received $3.18 billion of FDI in the same period last year, according to data from India’s Department of Industrial Policy and Promotion (DIPP).
The top sources of foreign investment during this period were Singapore, Mauritius, Netherlands and the United States, and the largest share of FDI inflows went to hotels and tourism, pharmaceuticals, services, chemicals and construction.
India announced a second wave of reforms by further liberalising FDI policy earlier this month.
The government relaxed investment norms in multi-brand retail and raised FDI caps in several sectors while approving 100 per cent FDI in the telecom sector.
India needs about $1 trillion from 2012-13 to 2016-17 to fund infrastructure such as ports, airports and highways to boost growth.
“FDI inflows have a positive impact by supplementing domestic capital, technology and skills of existing companies as well as through establishment of new companies”, said Commerce and Industry Minister Anand Sharma on Monday in a written response in the lower house of the Indian Parliament.
India remains the world’s third most attractive destination for investment by transnational corporations (TNCs) during 2013-15, stated a recent survey by the United Nations Conference on Trade and Development (UNCTAD).
Source: Agencies
