The government expects FDI inflows to increase by 40-45 per cent in 2016 and plans to take more steps to attract foreign capital.
As per the latest available figure for 2015, FDI inflows during January-September period has increased by 18 per cent to $26.51 billion, said Department of Industrial Policy and Promotion (DIPP) Secretary Amitabh Kant at the sidelines of a CII event on "Make in India'. Comparative figures in 2014 were $28.78 billion and $22 billion in 2013, according to DIPP.
"India is an oasis in the global desert and FDI will grow by 40-45 per cent in and the government has taken vast number of policy measures this year which will all bear fruit," he added. As an example, the government pointes to relaxed e-commerce norms for foreign companies having manufacturing facilities in India, coupled with improving ease of doing business in the country as some of the measures taken to improve the economy.
The sectors that have attracted maximum FDI this year include services, computer hardware and software, telecom, automobile and trading.