FDI inflows rose in 2014-15 from 3 countries visited by Modi

New Delhi

FDI inflows increased in 2014-15 from three countries out of four major investing nations visited by Prime Minister Narendra Modi last fiscal with Australia showing a decline, government said today.

Replying in the Rajya Sabha, External Affairs Minister Sushma Swaraj said Modi visited 26 countries from June 2014 to July 2015 and all visits had a substantial economic component.

“These efforts have helped in creating a positive image of India and, as a result, FDI equity inflows increased from USD 24.3 billion in financial year 2013-14 to USD 30.9 billion in 2014-15, a growth 27.3 percent,” she said.

A break-up of FDI inflows from top 10 countries visited by Modi showed increase in eight cases and decline in two others.

Out of this, he visited only four countries during the last fiscal.

Among these four nations, FDI inflows increased from Mauritius, Japan and the US. FDI inflow from Australia declined marginally.

Swaraj further said, FDI inflows in the first two months of the current fiscal also increased by 40 per cent to USD 5.3 billion. The countries visited in April and May included Canada, Germany, France and China.

While Delhi NCR was the top FDI destination, Gujarat was at the fifth place in receiving foreign investments.

PTI