FDI inflows into India contract shrink 38% in FY'13

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FDI inflows into India contract shrink 38% in FY'13
Despite the finance minister opening up various sectors to foreign direct investments (FDI) in September last year, the country witnessed 38 per cent drop in flow of funds through this route at USD 22.4 billion in 2012-13 as against USD 35.1 billion in the previous fiscal.

However, analysts advised that data for a single fiscal should not be used to assess the results of such FDI decisions taken by government and one would have to wait longer to assess a trend.

The FM P Chidambaram in September last year undertook major FDI reforms such as allowing 51 per cent FDI in multi-brand retail despite political hurdles, 100 per cent FDI in single brand from 51 per cent, allowing foreign airlines to pick up 49 per cent stake in domestic airlines, bringing clarity to FDI in power trading exchanges etc.

Read more about: fdi
Story first published: Tuesday, May 28, 2013, 9:30 [IST]
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