Foreign direct investment inflows into India during April-August 2005 were 18 per cent higher than in the corresponding period of 2004, RBI said on Tuesday. FDI into India during April-August 2005-06 period went up to $2,573 million from $2,186 million during the same period last year.
RBI attributed the surge to pick-up activity and positive investment climate of the country. The Central Bank said FDI inflows were concentrated in cement, software supply services, food processing, textile, construction and financial services.
Mauritius, US and UK continued to remain the dominant sources of FDI in India, it said.
Portfolio investment into the country went up spectacularly to $3,796 million during April-August 2005-06 from $98 million in the same period last year, it said.
"After remaining subdued during April-May 2005, Foreign Institutional Investors made large purchases in the Indian stock markets in the subsequent three months resulting in inflow under portfolio investment of US dollar 3.8 billion during April-August 2005," it said.
The number of FIIs registered with the SEBI increased from 68 at end-March 2005 to 764 by end-March 2005 with the registration from Australia, Austria, Canada and Denmark, providing a diverse FII base for investment in India, it said.
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