Despite tough time Foreign Direct Investment (FDI) into India has grown by 12 per cent year-on-year to $1.65 billion in July, highest since April. In July 2012, the country had received FDI worth $1.47 billion.
In April, the first month of the current financial year, the inflows stood at $2.32 billion, according to the data of the Department of Industrial Policy and Promotion (DIPP).
During the April-July period, FDI has grown by 20 per cent to $7.05 billion, from $5.90 billion in the same period last fiscal, the data said.
The sectors that received large inflows during the first four months of the 2013-14 fiscal include services ($1.02 billion), pharmaceuticals ($1 billion), automobile industry ($637 million) and construction ($359 million).
The maximum FDI during the period came from Singapore ($2.21 billion), followed by Mauritius ($1.85 billion), the Netherlands ($520 million), Germany ($518 million), and the US ($371 million).
A DIPP official said that the recent steps announced by the government would further help in attracting FDI inflows and improving the investment environment.