At a time when the global FDI trends are not so encouraging, India has not only bucked the trend but also registered a record inflow during 2016-17. According to data released by the department of industrial policy and promotion (DIPP) last week, FDI into the country rose by 9 percent in 2016-17 touching a record level of $43.5 billion. The commendable jump in the inflow was led by the services sector which attracted $8.9 billion.
Mauritius remained the leading global hub for FDI inflow in India accounting for $15.7 billion, followed by Singapore at $8.7 billion. “The government in past three years has undertaken a number of reforms in different areas of economy. The scale of reforms can be gauged from the fact that during this period, 21 sectors covering 87 areas of FDI policy have undergone reforms. This has resulted in increased FDI inflows, which year after year is setting new records,” DIPP said in a note.