New Delhi, Apr 25: Foreign direct investment (FDI) in the country grew by 44 per cent to USD 63.16 billion during June 2014 to February 2016 period, Parliament was informed today.
"Due to the continuous reforms and initiatives being undertaken by the government, the FDI equity inflow has recorded a growth of 44 per cent in its 21 months tenure (June 2014 to February 2016)," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.
She said that FDI has increased from USD 43.87 billion to USD 63.16 billion during June 2014 to February 2016 as compared to the preceding period of 21 months (September 2012 to May 2014).
She said to boost the entire investment environment and to bring in foreign investments in the country, the government has brought in FDI related reforms and liberalisation touching upon 15 major sectors of the economy by putting more and more FDI proposals under automatic route.
Government has relaxed the norms in sectors like railway, medical devices, construction and defence.