FDI Current Affairs

India attracts $209 billion FDI in 2014-2017: Government

India has attracted reaching US $208.99 billion foreign direct investment (FDI) during April 2014 to December 2017 period. The main sectors that received maximum FDI include services, computer software and hardware, telecommunications, construction, trading and automobile.

Key Facts

Foreign investments are considered crucial for India as it needs around 1 trillion dollars for overhauling its infrastructure sector such as ports, airports and highways to boost growth. Strong inflow of foreign investments mainly helps to improve the country’s balance of payments (BoP) situation and also strengthen the rupee value against other global currencies, especially dominant US dollar. To attract inflow of foreign investments, the central government has announced several measures including liberalisation of FDI policy and improvement in business climate.

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India’s first-ever FDI in fertiliser sector: Yara acquires Tata Chemicals urea plant

Norwegian fertiliser giant Yara International has announced completion of its acquisition of Tata Chemicals’ 1.2 million tonnes per annum production capacity urea plant at Babrala in Uttar Pradesh.

The Rs. 2,682-crore acquisition deal includes transfer of all assets and liabilities (including working capital) relating to Babrala unit. It marks first foreign direct investment (FDI) in India’s highly regulated urea sector.

Key Facts

The acquisition represents a major step of Yara as it deepens its footprint in India, world’s second largest fertiliser market after China. Moreover, a greenfield urea-ammonia plant of this size at Babrala will entail a setting up cost of $1 billion.

Yara is headquartered in Oslo, Norway. Current it does annual sales of $35-40 million in India. Much of it comprises premium micronutrients, complex and water-soluble fertilisers used in high-value crops such as banana, grapes, apples, sugarcane, chilli and vegetables grown mainly in Maharashtra, Karnataka, Andhra Pradesh and Himachal Pradesh.

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