With the government taking steps to improve ease of doing business and attracting investments, FDI inflows into the services sector grew by over 46 per cent to 3.25 billion dollars in 2014-15. The services sector, which includes banking, insurance,outsourcing, R&D, courier and technology testing, had received foreign direct investment worth 2.22 billion dollar in 2013-14. However, the total foreign inflow in 2014-15 in the services sector was low as compared to 2012-13 when it was 4.83 billion dollar, according to the Department of Industrial Policy and Promotion (DIPP) data. In step with the growth in FDI in important sectors like services, overall foreign inflows in the country too rose by 27 per cent to 30.93 billion dollar during the previous fiscal. The amount was 24.29 billion dollar in 2013-14.
News On AIR | June 15, 2015 1:38 PM
FDI in services sector grows by 46% in 2014-15, reaches $ 3.2 bn