In a recent announcement made by the Commerce and Industry Ministry it said that FDI (Foreign Direct Investment) in the country splurged upto 44 per cent to $63.16 billion during June 2014 to February 2016.
In a written reply to the Lok Sabha on the same, Nirmala Sitharaman said that due to the continuous reforms and initiatives being undertaken by the government, the FDI equity inflow has recorded a growth of 44 per cent in its 21 months tenure (June 2014 to February 2016).
She also said that FDI has increased from $43.87 billion to $63.16 billion during June 2014 to February 2016 as compared to the preceding period of 21 months (September 2012 to May 2014).
To boost the entire investment environment and to bring in foreign investments in the country, the government has brought in FDI related reforms and liberalisation touching upon 15 major sectors of the economy by putting more and more FDI proposals under automatic route, said Sitharaman.
Government has relaxed the norms in sectors like railway, medical devices, construction and defense.