Govt must follow up on its restrictions on investment from China
Not only the FDI at $49.9 billion was record high witnessed by India so far, it also recorded growth after 1% fall in the previous year
Ambiguity on whether investment falls under automatic route or requires govt approval
This is also expected to reduce the inflow of investments in new companies as well as the merger and acquisition scenario in the country
Singapore was the largest source of FDI for India in FY20, accounting for around $8 billion, followed by Mauritius with $6.3 billion
Goyal's response came in response to a question by Congress MP Abdul Khaleque on whether the Foreign Direct Investments into India have declined in 2018-19
Recently, the government relaxed foreign investment norms in sectors such as single-brand retail trading, coal mining and contract manufacturing
RBI data shows inflows have fallen for the first time since 2014
India received $ 37.3 billion capital inflow in 2017-18 as compared to $ 36.3 billion in the previous fiscal
Foreign direct investments have nearly doubled over the past decade to $42 bn
FDI inflows into Asia were down by 15% to $443 billion in 2016, the first decline since 2012
This is a huge jump in FDI inflows since 2013, said PM