For the first time in three years, 2004-05 saw an increase in foreign direct investment into India touching $5.5 billion, while FDI made by Indian companies doubled to $2.5 billion during the last fiscal, FICCI has said.
However, the FDI flow into India during the last fiscal was still below $6.1 billion received in 2001-02, the FICCI study revealed.
FDI, which declined from $6.1 billion in 2001-02 to $5 billion in 2002-03 and further to $4.7 billion in 2003-04, went up by 18.2 per cent to $5.5 billion during 2004-05, the study on 'Fundamental shift in external sector growth' said.
Total FDI made by Indian companies went up from $1.3 billion in 2003-04 to $2.5 billion in 2004-05, the study said.
This is the highest recorded increase in Indian investments abroad in a single year.
With the cumulative FDI of Indian companies standing at just $5.1 billion till 2002-03, the total amount of such investment touched $8.8 billion till 2004-05, according to the study.