Big jump in FDI inflows in January this fiscal

New Delhi, Mar 8 (UNI) Foreign Direct Investment (FDI) received by India has registered an increase of 326 per cent in January 2006 being valued at 647.7 million dollar against 152 million in January 2005.

''What is heartening about the growth in FDI is that the inflows are coming in the manufacturing, which we want, will contribute increased share in India's GDP'', Commerce and Industry Minister Kamal Nath said while releasing the FDI figures.

The Minister indicated that FDI inflow in equity up to the third quarter of the financial year 2005-06 (April 2005- January 2006) has been 4.34 billion dollar. This represents an increase of 60.5 per cent over the FDI inflows of 2.7 billion dollar received during the corresponding period of the previous year 2004-05.

The major investing countries during this period have been Germany (35 per cent), UK (26 per cent), Mauritius (22 per cent ), Singapore (six per cent) and USA (two per cent).

The major sectors attracting investments in January 2006 were Chemicals -other than fertilizers (37 per cent), Fuels (26 per cent), Agricultural machinery ( eight per cent), Drugs and Pharmaceuticals (six per cent and Services sector( per cent).

Micro Inks Ltd.(Printing inks manufacture), GVK Power&Infrastructure (Electricity Generation), New Holland Tractors (Tractors, Agricultural machinery) received high inflows during the month of January 2006.

The major investing countries during April-January 2006 period have been Mauritius (47 per cent), USA (nine per cent), UK (nine per cent), Germany ( seven per cent), Singapore (five per cent).

The major sectors receiving inflows are Electrical equipments (20 per cent), Services sector (11 per cent), Cement and Gypsum (10 per cent), Chemicals (other than fertilizers)(10 per cent), Transportation (five per cent).

UNI PC RA GC1744