Telecommunication suffers big drop in FDI
Foreign direct investment (FDI) slipped by 1% to US$44.37 billion for 2018-19 in India, a first time in six years, said the Department for Promotion of Industry and Internal Trade (DPIIT) on 28 May 2019.
It was US$44.85 billion in 2017-18, a record high since 2012-13 when overseas fund inflows contracted by a hefty 36% to US$22.42 billion.
The FDI inflows in telecommunication, construction development, pharmaceuticals and power sectors declined significantly in 2018-19, according to DPIIT data.
The telecommunication sector suffered the biggest fall in FDI to US$2.67 billion in 2018-19 from US$6.21 billion in 2017-18, followed by fall in construction sector US$213 million from US$540 million, pharmaceuticals to US$266 million from US$1 billion and the power sector to US$1.1 billion from US$1.62 billion. fiinews.com