Current context: Commerce and Industry Minister Piyush Goyal, in a written reply to a question in the Lok Sabha said that the FDI inflow stood at the highest ever for the fiscal year 2018-19.
a. 2015-16
b. 2016-17
c. 2017-18
d. 2018-19
- In 2018-19, the foreign direct investment (FDI) inflow stood at a record 62 billion US dollars.
- The initiative was launched in 2014 for promoting India as an important investment destination and a global hub for manufacturing, design and innovation.
- The FDI inflows were $45.14 billion during 2014-15
- The inflows were $55.55 billion during 2015-16
- In 2016-17, the FDI inflows hit $60.1 billion
- The inflows were $60.98 billion during 2017-18
- FDI is when a company takes controlling ownership in a business entity in another country.
- Routes through which India gets FDI are:
- Automatic route: FDI is allowed without prior approval
- Government route: Prior approval by the government is needed
- Sectors under 100% Automatic route category
- Singapore was at the top spot as India's largest source of Foreign Direct Investment (FDI) in the 2018-19 financial year.
Question:
Q.1 As per the Commerce and Industry Ministry, in which fiscal year the FDI inflow in India stood at the highest ever?a. 2015-16
b. 2016-17
c. 2017-18
d. 2018-19
