The Telegraph
Since 1st March, 1999
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Power, refinery attract highest FDI

New Delhi, Sept. 5 (PTI): The fuels sector, which includes power and refinery, attracted the highest amount of foreign direct investment inflows during the first six months this year with $ 539.7 million, accounting for 34 per cent of total FDI.

As per the latest statistics compiled by the industry ministry, of the total FDI inflows of $ 2,663.8 million during January-June 2002, fuels attracted the highest amount of FDI followed by the electrical equipment and services sector.

While the electrical equipment sector, which includes computer software, attracted FDI inflows of $ 344.7 million, the services sector which includes both financial and non-financial services attracted $ 138.6 million during the first six months of the calender year accounting for a share of 8.62 per cent. Other sectors that figured in the top five include the transportation industry and telecommunications with FDI inflows of $ 116 million and $ 62.3 million respectively.

Among states, Maharashtra attracted the highest amount of FDI with inflows of $ 736.2 million accounting for a share of 45.81 per cent.

Delhi was a distant second with inflows amounting to $ 281.3 million garnering a share of around 18 per cent while the other states in the top five included Tamil Nadu, Karnataka and Andhra Pradesh.

In terms of top investing countries, the data reveals that Mauritius with $ 826.7 million and accounting for over 51 per cent of the total inflows was the leading investor in India.

Other countries that figured in the top five were the United Kingdom, the US, Japan and Germany.

While UKs investment was worth $ 190.2 million, that of the US amounted to $ 158.3 million, Japan $ 138.7 million and Germany $ 68.1 million.

In terms of approvals, the US topped with a total of 302 FDI approvals during January-June this year followed by Mauritius with 133.

Other countries in the top five FDI approval list included the UK, Japan and France.

A sector-wise break-up of FDI approvals during the six-month period indicates that transportation sector with approvals worth $ 295 million attracted the highest approvals. It was followed by the services sector, telecommunications, electrical equipment and fuels sector.

The percentage of share has been worked out on the amount that has been received through the secretariat of industrial assistance or the FIPB (Foreign Investment Promotion Board) route and the RBI automatic route.

Country and state specific data has not been included on the balance amount of inflows received through other routes including acquisition of shares, the RBI, NRI schemes and amount raised through ADRs and GDRs.

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