Modi effect! FDI up 24% at $60.69 bn in 16 months: Nirmala Sitharaman

New Delhi, Dec 9: Foreign direct investment (FDI) in the country has increased by 24 per cent to USD 60.69 billion under the present government, Parliament was informed today.

The country had attracted USD 48.9 billion FDI during February 2013 to May 2014, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

"Yes sir. FDI in the country has increased since the inception of the present government," she said.

Sectors that have attracted healthy foreign investment during the period, June 2014 to September 2015 include computer software and hardware, trading, services, automobile and telecommunications.

Foreign investment is crucial for India, which needs about USD 1 trillion by March 2017 to overhaul infrastructure such as ports, airports and highways and boost growth.

PTI