FDI inflows in manufacturing rose by 45%, says govt

FDI inflows in the manufacturing sector rose by almost 45 per cent between October last year and this February, compared to the same period in the previous financial year, government said today.

FDI inflows in manufacturing rose by 45%, says govt
The FDI inflow in October 2014-February 2015 stood at USD 6,916.99 million compared to USD 4,770.94 million in the corresponding period of previous financial year, Commerce and Industry Minister Nirmala Sitharaman said in Rajya Sabha during Question Hour.

Responding to a question by Congress MP Ambika Soni, she said that 'Make in India' initiative was targeted towards making India an important investment destination and a global hub for manufacturing, design and innovation. Sitharaman said an action plan has been developed with 98 points for improvement of regulatory environment and improving ease of doing business in the states.

States have been requested to complete action by June 30. The states will thereafter be evaluated on the basis of their performance on Ease of Doing business, she said. 'Make in India' had a significant global presence over the internet with 8,04,690 mentions since its launch of which more than 60 percent was from out of India, she claimed. Replying to a question by her UPA predecessor Anand Sharma, the Commerce Minister agreed that some of the measures were initiated during the UPA's tenure but they are being implemented now.

"The government is a continuum process, and it is a part of the process to carry on the initiatives," she said.

PTI 

Read more about: fdi
Story first published: Wednesday, April 29, 2015, 16:30 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?