By IANS
New Delhi : Foreign direct investment (FDI) into India has continued to rise, pegging a growth of over 150 percent in 2006-07, even as investments by Indian companies in overseas firms narrowed the gap over FDI inflows, the Economic Survey for 2007-08 said Thursday.
The report said outward investment by India shot up from less than $2.4 billion in 2003-04 to $14.4 billion in 2006-07.
This compares with FDI inflow of $23 billion in 2006-07, which was 150 percent more than the investments that flowed into the country the previous year, the survey said.
It said FDI inflows into India had accelerated in 2006-07 due to reforms in policies, better infrastructure and more vibrant financial sector.
The inflows were spread across a range of economic activities like financial services, manufacturing, banking services, information technology services and construction, the report added.
“On a gross basis, FDI inflows into India after rising to $ 6.2 billion in 2001-02, has gone-up further to $23.0 billion in 2006-07. The trend continued in the current financial year with gross FDI inflows at $11.2 billion in the first six months,” said the survey.