FDI inflows shoot up by 114% in December 2015
The major sectors that attracted foreign inflows include computer software and hardware, trading, services, automobile and telecommunications
Foreign direct investment (FDI) in the country more than doubled to about $4.5 billion (Rs โ30,514.5 crore) in December 2015.
"FDI inflow to India recorded a whopping 114% growth for December 2015 vs December 2014," the Commerce and Industry Ministry said in a tweet.
In December 2014, India had received $2.16 billion (Rs โ14,646.96 crore).
The major sectors that attracted foreign inflows include computer software and hardware, trading, services, automobile and telecommunications.
India receives maximum FDI from Singapore, Mauritius, the Netherlands and Japan.
In 2014-15, foreign fund inflows grew 27% to $30.93 billion (Rs โ2.09 lakh crore) as against $24.29 billion (Rs 1.64 lakh crore) in 2013-14.
The government has relaxed FDI norms in as many as 15 sectors, including Defence, single brand retail, construction development, civil aviation and LLPs, to boost FDI in the country.
Foreign investments are considered crucial for India, which needs around $1 trillion in the next five years to overhaul its infrastructure sector such as ports, airports and highways to boost growth.