Foreign direct investment increases to $3.60 billion in April

Foreign direct investment (FDI) in India increased to US $3.60 billion in April, says Department of Industrial Policy and Promotion's data.

In April 2014, it stood at US $1.70 billion, while in March, the foreign direct investment dipped by 40%, according to DIPP data.

Amongst the top 10 sectors, computer software and hardware received the maximum FDI of US $709 million in April, followed by automobile (US $655 million), trading (US $441 million), services (US $217 million) and power (US $109 million).

During the month, India received the maximum FDI from Singapore (US $1.13 billion) followed by Mauritius (US $907 million), the US (US $392 million) and the Netherlands (US $374 million).

During financial year 2014-15, foreign fund inflows grew at 27%, year-on-year, to US $30.93 billion as against US $24.29 billion in 2013-14.

India is estimated to require around US $1 trillion investment over five years to overhaul its infrastructure sector, including ports, airports and highways, to boost growth.

The government has relaxed FDI norms in various sectors, including insurance, railways and medical devices, to boost FDI in the country.