INDIRECT TAXES
| FDI in services sector drops 34 Percent Tue, 22 Jun 2010 |
| The Hindu FDI in services sector drops 34 % NEW DELHI: The uncertain global credit scenario and the financial crisis the world faced resulted in foreign direct investment (FDI) in the services sector drop by 33.5 per cent to $4.39 billion during 2009-10. According to the latest data released by the Department of Industrial Policy and Promotion (DIPP), the services sector, which includes financial and non-financial services, attracted the maximum foreign inflows out of all the sectors. During 2008-09, India received $6.61 billion FDI in the services sector. Britain, the Netherlands, Germany and France are the major investors in India. FDI in computers and the hardware segment also slipped to $919 million from $1.67 billion in 2008-09. The services sector attracted 21 percent of the total FDI inflows in April-March, 2009-10. It was followed by construction activities,housing and real estate and telecommunications, which attracted $2.86 billion, $2.84 billion & $2.55 billion investments respectively. The highest FDI of $10.37 billion came from the Mauritius, followed by Singapore and the US. However, the contribution from Mauritius was less than in 2008-09, when the country received $11.2 billion FDI. Overall, FDI during the fiscal declined to $25.88 billion from $27.33 billion in 2008-09. |
Online Poll