NEW DELHI: The Indian economy is on a roll, notching up a record $4.4 billion in foreign direct investment during April-September 2006, up 100 per cent from the same period last year, Commerce Minister Kamal Nath said on Monday.
The impressive growth in FDI equity inflows is the highest recorded in any six-month duration and is higher than the total yearly inflow in any period prior to 2005-06 (which, however, received a higher FDI inflow of $5.5 billion).
Singapore has emerged as the second largest investor in India, piping the United States and the United Kingdom with a total investment of $ 481.7 million -- a growth of 305 per cent compared to FDI inflows in the corresponding period of last year, the minister said here.
The period also saw two other firsts -- industrial growth logged double-digit growth of 10 per cent during the past 11 years and a 12 per cent jump in manufacturing rate of growth, he announced.
FDI inflows have registered a consistent growth in the past three years, he said, noting that in September alone this rose to $916 million compared to $282 million garnered during September 2005, showing a spectacular rise of 225 per cent.
