India has received more than USD 19.78 billion of foreign direct investment (FDI) from 12 countries which was visited by Prime Minister Narendra Modi in financial year 2014-15, Parliament was informed. Indian companies have also invested USD 3.42 billion in the countries including Bhutan, Brazil, Nepal, Japan, the US, Myanmar, Australia, Fiji, Seychelles, Mauritius, Sri Lanka and Singapore, which was visited by the Prime Minister.
The total outflow and inflow of the foreign investment in general for the 2014-15 fiscal was USD 6.42 billion and USD 75.71 billion, respectively, Commerce and Industry Minister Nirmala Sitharaman said in the Rajya Sabha. In the fiscal year 2014-15, FDI in India has increased by 27 per cent to USD 30.93 billion.
The FDI inflow was USD 47.14 million in the similar period last year, Commerce and Industry Minister Nirmala Sitharaman said in the Lok Sabha. In April, the Reserve Bank had notified the government's decision to increase the foreign direct investment limit in the insurance sector to 49 per cent. As per the guidelines, FDI of up to 26 percent comes under the automatic route, while for inflows beyond that and upto 49 percent, government approval is needed.
The Commerce and Industry Minister Nirmala Sitharaman said that data on FDI inflows in railway infrastructure is not separately maintained. She added that the FDI policy on real estate has not been revised recently.
Modi’s foreign visits were being criticised by the opposition. Congress leader Rahul Gandhi has made a mockery of these visits. Now that the results are placed before the parliament, Rahul Gandhi has to explain his 56 days of disappearance act. The congress which is trying its level to stall the development of the the country and welfare of the ciitizens are feeling guilty about their unsuccessful and scam tainted tenure. The people of this country is watching and experiencing the dynamic leadership of Prime Minister Narendra Modi.