New Delhi, Jan. 7 (PTI): The share of foreign direct investment (FDI) in the country’s total investment between 2003-04 and 2006-07 has more than doubled because of gradual delicensing of sectors and ease in doing business for global companies. The FDI inflow recorded a five-fold increase in the last three years.

“As a percentage of total investment, the FDI share has risen from 2.55 per cent in 2003-04 to 6.42 per cent in 2006-07,” a year-end review of the department of industrial policy and promotion said.

The study said after receiving FDI worth $15.7 billion in the last fiscal, an ambitious target of $30 billion had been set for 2007-08. Till August this fiscal, inflows of $6.44 billion were recorded with the maximum funds coming through tax haven Mauritius.

Reflecting the growing interest of foreign investors in the country, the share of FDI in India’s gross domestic product has also gone up from a mere 0.77 per cent to 2.31 per cent in the last financial year.

“Because of progressive delicensing, only a handful of sectors remain within the ambit of compulsory licensing on account of safety, security and environmental concern,” the review showed.