FDI rises 3 pc to $6.95 billion in April: Piyush Goyal

Economy


NEW DELHI: Foreign direct investments (FDI) into the country grew 3 per cent to USD 6.95 billion in April, Parliament was informed Wednesday. Commerce and Industry Minister Piyush Goyal said that during 2018-19, the country recorded the highest-ever total FDI inflow of USD 64.38 billion, which is 6 per cent higher as compared to 2017-18.

“As per data available for April 2019, an amount of USD 6.95 billion has been reported as FDI inflows, which is 3 per cent more compared to April 2018 (USD 6.77 billion),” he said in a written reply to the Lok Sabha.

He also said 59 FDI proposals were approved in 2018-19 and five in April this fiscal.

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In a separate reply, he said the Enforcement Directorate is conducting investigation in 581 cases under the Foreign Exchange Management Act, 1999, (FEMA) for alleged violation of FDI norms.

“Disclosure of other details of these cases may not be in large public interest as the same may adversely impact the ongoing investigations,” he said.



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