India received $19.78 billion FDI from nations visited by Narendra Modi in FY15

NEW DELHI: India received $19.78 billion foreign direct investment (FDI) from 12 countries visited by Prime Minister Narendra Modi in financial year 2014-15, Parliament was informed today.

During the period, Indian companies invested $3.42 billion in these countries which include Bhutan, Brazil, Nepal, Japan, the US, Myanmar, Australia, Fiji, Seychelles, Mauritius, Sri Lanka and Singapore.

The total outflow and inflow of foreign investment in general for 2014-15 fiscal was $6.42 billion and $75.71 billion, respectively, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to Rajya Sabha.

In 2014-15, FDI in India increased by 27 per cent to $30.93 billion.

Replying to a separate question over investigation by the Central Vigilance Commission (CVC) against senior officials of the ministry over 47 missing files on special economic zones, she said all files except 5 are available in the department of commerce and were made available for the audit.

“The remaining five files relating to setting up of central government SEZs, which are 30-50 years old, are not available,” she added.

She further said that the department has no information if any inquiry has been initiated by CBI in this regard.

The Comptroller and Auditor General, in its report for 2012-13 on performance of special economic zones (SEZs), has observed that 47 files were not produced to audit.

Source: The Economic Times

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