New Delhi: Foreign direct investment in India surged by 28 per cent to USD 16.33 billion in April-June 2019 compared to USD 12.75 billion in the year ago period.
Telecommunications sector attracted the maximum FDI of USD 4.2 billion, followed by services sector at USD 2.8 billion, computer software and hardware and trading (USD 1.13 billion), according to the data released by the commerce ministry.
Singapore was the largest source country of FDI in India during April-June with USD 5.33 billion. Mauritius (USD 4.67 billion), the US (USD 1.45 billion), Netherlands (USD 1.35 billion), and and Japan (USD 472 million) were among the major source country of FDI.
FDI is important as India would require huge investments in the coming years to overhaul its infrastructure sector to boost growth.
Recently the government relaxed foreign investment norms in sectors such as single brand retail trading, coal mining and contract manufacturing.