Automobile Industry Current Affairs - 2019
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The data released from the Ministry of Commerce and Industries shows that the FDI inflows to India contracted by 7 per cent to USD 33.49 billion during April-December in the financial year 2018-19.
Key Facts about FDI inflow to India
- The FDI inflow during April-December 2018-19 at USD 33.49 was 7 per cent lower than the FDI inflow of USD 35.94 billion during April-December 2017-18.
- The sectoral wise breakup of the FDI in the corresponding period is as listed below: services (USD 5.91 billion), computer software and hardware (USD 4.75 billion), telecommunications (USD 2.29 billion), trading (USD 2.33 billion), chemicals (USD 6.05 billion), and the automobile industry (USD 1.81 billion).
- Singapore was the largest FDI contributor during April-December 2018-19 with USD 12.97 billion inflow.
- Singapore was followed by Mauritius (USD 6 billion), the Netherlands (USD 2.95 billion), Japan (USD 2.21 billion), US (USD 2.34 billion), and the UK (USD 1.05 billion).
This decline in the FDI inflows could put pressure on the country’s balance of payments and may also adversely impact the value of the rupee.
Tags: Automobile Industry • chemicals • computer software and hardware • Japan • Mauritius • Ministry of Commerce and Industries • Netherlands • Services • Singapore • Telecommunications • Trading • UK • US
The Ministry of Commerce and Industry has released the data related to the Foreign Direct Investment (FDI) inflows during April-September 2018-19. The important aspects from this data:
- The Foreign direct investment (FDI) into India was declined by 11 per cent to USD 22.66 billion during April-September period of 2018-19.
- The FDI inflows during April-September 2017-18 stood at USD 25.35 billion.
- The FDI which attracted large FDI are services (USD 4.91 billion), computer software and hardware (USD 2.54 billion), telecommunications (USD 2.17 billion), trading (USD 2.14 billion), chemicals (USD 1.6 billion), and automobile industry (USD 1.59 billion).
- Singapore with the FDI of USD 8.62 billion inflow was the largest source of FDI during April-September 2018-19.
- Singapore was followed by Mauritius (USD 3.88 billion), the Netherlands (USD 2.31 billion), Japan (USD 1.88 billion), the US (USD 970 million), and UK (USD 845 million).
The Foreign Direct Investment growth witnessed a five-year low growth of 3 per cent at $ 44.85 billion in 2017-18. The decline in the growth rate of FDI could adversely affect the country’s balance of payments and may also impact the value of the rupee.
Tags: Automobile Industry • chemicals • computer software and hardware • FDI • Foreign Direct Investment • Japan • Mauritius • Ministry of Commerce and Industry • Netherlands • Services • Singapore • Telecommunications • Trading • UK • US