India recorded a more than 50 percent growth in net FDI inflows during April-July 2013 as against a 40 percent negative growth noted during the corresponding period of 2012-13, an industry body said Friday.
"Net FDI inflows increased to USD 8.2 bn during the period April-July 2013 from USD 5.4 bn during the corresponding period of the previous year," said PHD Chamber of Commerce & Industry in a press statement released in New Delhi.
"Tremendous increase in net FDI inflows is attributed to the recent reforms undertaken by the Government of India in which the government enacted various reforms in the FDI policy regime and opened up various promising sectors of the Indian economy to foreign investors," said Suman Jyoti Khaitan, President, PHD Chamber of Commerce & Industry.
PHD Chamber looks forward to continuation of economic reforms and effective implementation of reforms in the country to retain the confidence of foreign investors.
This continuation of reforms process would help India to become a major hub for foreign investors, going forward, he added.
Despite worse effect of global economic crisis, India's health of foreign investments remained joyful in Post-Lehman Crisis period (FY2009-13) as its volume of FDI and FII inflows rebound sharply, the Chamber asserts.
It is encouraging to note that FDI inflows stood highest at around USD 198 bn in FY2009-13 period as against about USD 77 bn in FY2004-08, about USD 21bn in FY1999-03 and around USD 10 bn in FY1994-98, said PHD Chamber
Similarly, FII inflows were highest at around USD 100 bn in the post crisis phase i.e. FY2009-13 as compared to around USD 50 bn during FY2004-08, about USD 7 bn in FY1999-03 and around USD 9 bn in FY1994-98, added release.
