Stating that the FDI inflows in the country are steadily improving, union commerce and industry minister Nirmala Sitharaman, recently (on February 16), said that more and more investments are coming from sectors other than IT and ITeS. “Highest investments are coming from services other than IT and IT-enabled services, which may include a lot of things – it could be courier services, it could be services that are partly related to logistics, retailing and so on,” she said in her address at the IIM Bangalore. Construction and infrastructure are receiving the second-highest amount of FDIs, the minister said.
See also: Is FDI relaxation aimed at attracting investment in smart cities?
“We also have retailing, IT and IT-enabled services. The chemical industry, other than fertilisers, is also receiving a lot,” she said. Sitharaman said that India received FDI worth nearly USD 29.6 billion in the last fiscal. “Among the countries that monitor their FDI inflows, we seem to have received the highest amount in the last fiscal. In terms of percentage, it is a 38% rise in inflows, compared to a 16% dip all over the world,” she added. This only shows that the Indian economy is instilling confidence in the minds of investors. “Largely individual, trust and other corporate entities, are coming in. The US-India Business Council has assessed that in the next five years, US business houses will be interested in investing anywhere between 40 to 45 billion US dollars in India, in various sectors of activity,” she said.
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