FDI sets a new record at $64.37bn in FY19: Centre

NEWDELHI:INDIA received the highest-ever FDI inflow of $64.37 billion during the fiscal ended March 2019, as per a government report.

According to the Annual Report 2018-19 of the Department for Promotion of Industry and Internal Trade (DPIIT), the country received foreign direct investments (FDI) worth $286 billion in past five years.

“In the current financial year (2018-19), the country registered highest ever FDI inflow of USD 64.37 billion,” the report said.

Highlighting the importance of FDI, it said the foreign inflows bring in resources, the latest technology and best practices to push economic growth on to a higher trajectory.

The DPIIT under the commerce and industry ministry further said path-breaking reform measures undertaken during the last financial year have resulted in India surpassing the FDI received in 2016-17 and registering an inflow of $60.98 billion during 2017-18, a new all-time high.

Besides, the DPIIT said an action plan for promotion of Indian ‘geographical indications’ has been prepared. This can help supplement the incomes of our farmers, weavers, artisans and craftsmen.