March 6, 2016 4:57 PM

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FDI inflows into services sector surge 85.5% in 1st 9 months of this fiscal

Foreign Direct inflows into the services sector surged 85.5 percent to 4.25 billion dollars in the first nine months of this fiscal. The sector, which includes banking, insurance, outsourcing, R&D, courier and technology testing, had received foreign direct investment worth 2.29 billion dollars during this peiod, according to the Department of Industrial Policy and Promotion. FDI in services sector accounts for 17 percent of the country's total foreign investment inflows. Overall foreign direct inflows in the country jumped 37 percent to 39.32 billion dollars during the first nine months of 2015-16. The amount was 28.78 billion dollars in the year-ago period.

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