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FDI equity commitments under Make in India at $45.68 bn: Sinha

FDI equity commitments under Make in India at $45.68 bn: Sinha

Foreign investors have committed USD 45.68 billion worth of equity capital inflows under the government’s ambitious Make In India programme till December 2015, Parliament was informed today.

Giving details of “FDI equity inflow received after Make In India initiatives for the period October, 2014 to December, 2015”, Minister of State for Finance Jayant Sinha said in a written reply in Lok Sabha that USD 29.44 billion came in during April-December period of 2015-16. Besides, commitments worth USD 16.24 billion came during October-March of 2014-15, he added.

Sinha said these investments include only the “equity capital component”. He was responding to a question about number of investors who have come forward to invest in the country under the ‘Make in India’ programme. Government had launched the programme on September 25, 2014.

The programme was built on the promise of providing a conducive environment for domestic and overseas investors to turn 125 crore population strong-India a manufacturing hub and something that will also create job opportunities. On another question on money withdrawn by foreign investors, Sinha said the outflows were to the tune of Rs 20,177 crore as on February 26 in the current calendar year. In 2015, the capital inflows by foreign investors stood at Rs 63,663 crore, he added.

On amount remitted to India by NRIs working abroad in the last financial year, Sinha said the gross and net amounts remitted to India in 2014-15 stood at USD 69.83 billion and USD 66.28 billion, respectively.