FDI inflow up 26 p.c. in 1999

NEW DELHI, APRIL 20. The Government today said foreign direct investment (FDI) was 26 per cent higher during the calendar 1999 at Rs. 16,868 crores, taking cumulative FDI since 1991 to almost $60 billion, including global depository receipts (GDRs).

``During 1999 (January-December) the FDI inflow (including GDRs) has been Rs. 16,867.79 crores against Rs. 13,339.84 crores in 1998 (January -November),'' according to the annual report of the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion and the Department of Industrial Development) for 1999-2000 released here today. The FDI inflow last year was 26 per cent higher against the previous year, it said adding ``the cumulative FDI since 1991 adds up to over $59.7 billion (including GDRs) and the total inflows up to December 1999 are nearly $19.2 billion, giving a success rate of over 33 per cent.''

The report also said industrial production had been on the upswing during the period under consideration ``with the general index of industrial production showing a growth of 6.2 per cent during April-December 1999 compared to a 3.7 per cent growth in the corresponding period in the previous year.'' While the manufacturing sector recorded 6.7 per cent growth in 1999-2000, the electricity sector grew by 7.7 per cent.

- PTI

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