August 13, 2014 12:52 PM

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No decline in FDI inflow: Commerce Minister

The government today said there is no decline in the inflow of Foreign Direct Investment (FDI) into the country. Responding to supplementaries during the question hour in the Rajya Sabha, Minister of State for Commerce and Industry Mrs Nirmala Sitharaman said however that the FDI inflow is fluctuating from time to time. She said several efforts are being made to attract more FDI into the country.She said out of the total FDI inflow, 36 per cent comes from Mauritius and 12 per cent from Singapore. To a specific query, the minister made it categorically clear that the government is not in favour of FDI in multi-brand retail sector.Mrs Sitharaman said during the last three years, FDI inflow into thecountry has fluctuated. It decreased by 26.33 per cent during 2012-13in comparison to 2011-12. The FDI inflow increased by 6.12 per cent in2013-14 compared to 2012-13. She said under the liberalized economicenvironment, investment decisions of investors are based on the macro-economic policy framework, investment climate in the host country, investment policies of the trans-national corporations and other commercial considerations. The Minister informed the House thatthe total amount of FDI inflow received between August 1991 and May 2014 is 348.41 billion US dollars.

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