FDI to India increased 39 percent in 18 months: Modi


New Delhi, Jan 29 (IANS): Prime Minister Narendra Modi on Friday said the foreign direct investment (FDI) to India has increased by 39 percent in the last 18 months even while falling globally.

"The FDI to India increased by 39 percent in the last 18 months, when global FDI has fallen," Modi said in his address at The Economic Times Global Business Summit, noting that at present, the global economy is going through a period of uncertainty.

Stressing that reforms in a country should be linked to people's welfare, he said: "True reforms are those which results in transformation in the lives of citizens. My goal is reform to transform. Biggest beneficiary of any reform should be the poor."

Holding that creating new opportunities for citizens to progress is crucial for the growth of the nation, he said: "New opportunities are like oxygen to the aspirational citizens."

Modi said that reforms will be fruitful only if they succeed in impacting the lives of citizens for the better.

"We have to increase the quality of life of the common citizen and even more so, the quality of life of the poor. If a government is progressive, and runs an honest and efficient administration, the biggest beneficiaries are the poor. Poor governance hurts the poor more than it hurts others," he said.

"I believe in the politics of empowerment. I believe in empowering the people to improve their own lives. We need to value enterprise and hard work, not wealth. Creating opportunities for cities and towns to grow is very crucial. Urban areas are an engine of growth," he added.

Saying that "no country can be alone" in the globalised world today, he said India's economic efforts must have a positive global impact.

"India's policies must be such that they make a positive contribution to the rest of the world. For the last four quarters, India has been the fastest growing large economy in the world," he said.

Modi also noted that protecting the planet from climate change is "one of the most important tasks for this generation". "We are committed to reducing the emission intensity of our GDP by 33 percent by 2030 even while growing at a fast pace," he added.

Listing the government's achievements, he said: "India's highest ever urea fertiliser production was achieved in 2015. India's highest ever production of ethanol as blended fuel, benefiting sugar cane farmers, was in 2015. the highest number of new cooking gas connections to the rural poor was achieved in 2015.

"India's highest ever output of coal was achieved in 2015. Shipping Corporation of India which made a loss of Rs.275 crore in 2013-14 made a profit of Rs.201 crore in 2014-15."

The prime minister also cited the benefits of the Direct Benefit Transfer scheme of cash transfers in rationalisation of subsidies and weeding out illegal cooking gas connections.

"(I) was pleasantly surprised to see a noteworthy reduction in leakage, simply by eliminating those who were double counted and ineligible," he said.

  

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Comment on this article

  • Stan, udupi/dubai

    Sat, Jan 30 2016

    East or West FEKU IS THE BEST.

    DisAgree [2] Agree [1] Reply Report Abuse

  • geoffrey, hat hill

    Sat, Jan 30 2016

    As a result of not giving the benefit of low oil prices to common man of this country, Reliance has earned 11.4$ per evry barrel of oil it has processed in the last 3_months, making Ambani stinky rich which is 60% more than a year earlier - Rediffmail business, Jan 20

    DisAgree [2] Agree [13] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sat, Jan 30 2016

    Shriman Nagesh Nayak,
    "ALL WORLD LEADERS ARE IN QUEUE TO INVITE SHRIMAAN NARENDRA MODIJI TO HAVE GUIDNACE".
    Why these world leaders cannot come to India to seek Guidance.
    Nagesh, Thu Tho FEKU Ka master Nikla ...

    DisAgree [4] Agree [14] Reply Report Abuse

  • indian, india

    Sat, Jan 30 2016

    jossey,
    you also by blaming...

    DisAgree [9] Agree [1] Reply Report Abuse

  • Vincent Rodrigues, Promenade Road,Fraze Town,B'lore 560005

    Sat, Jan 30 2016

    Nothing seems to be changed in India.Better to check this statistics and confirm the authenticity.

    DisAgree [2] Agree [7] Reply Report Abuse

  • CHRIS, DUBAI

    Sat, Jan 30 2016

    Fekna bandh karo plz..

    DisAgree [6] Agree [14] Reply Report Abuse

  • CHRIS, DUBAI

    Sat, Jan 30 2016

    Dear Prime minister,they call you feku for a reason .....

    DisAgree [4] Agree [14] Reply Report Abuse

  • Mohammed, Kundapur/Qatar

    Sat, Jan 30 2016

    MODIJI you don't know anything about FDI, how it will effect Indian Economy.
    If anyone investing in India through FDI, they can get worth Rs. 68/- for Per $1 Dollar they are Investing.
    And They will take along with them all the Profits which is Hard Earnings for INDIAN.
    In Some SEGMENTS FDI is Very Dangerous such as RETAILS.
    God only can give Brain to BHAKTS who are Chanting Their Failure as SUCCESS and DEVELOPMENT.

    DisAgree [4] Agree [18] Reply Report Abuse

  • Abhijit, M'lore

    Sat, Jan 30 2016

    Haha you teaching Economics to Modiji that is too in Daijiworld as if Modi is a daily reader of Daiji news.
    Dear Friend gove has not allowed FDI in retail.
    Some ppls recollect that BJP has oppsed FDI, ofcourse BJP has opposed FDI but they oppoosed FDI in retail.
    I know there is no use in explaining all this to you peoples as I know Nai Bala Donku.

    DisAgree [8] Agree [4] Reply Report Abuse

  • SS,

    Sat, Jan 30 2016

    Once I Opposed this FDI... Vhe Vhehehe

    DisAgree [2] Agree [6] Reply Report Abuse

  • Subramanya, Kasaragod

    Sat, Jan 30 2016

    We have given 60 years to Congis for developing India, but they failed. Now wait atleast 5 years & watch Modi. Don't make a hungama on each & every small issues. It is not easy to bring the nation back in track, which was derailed from 60 years

    DisAgree [20] Agree [13] Reply Report Abuse

  • geoffrey, hat hill

    Sat, Jan 30 2016

    Subramanya, instead of making vague statements be specific. Face this: Rupee was 57.8 a dollar on 17/5/2014 and today it's 67.9. Tell me who's derailing? That too having the full advantage of low oil prices to our side.

    DisAgree [9] Agree [16] Reply Report Abuse

  • Subramanya, Kasaragod

    Sat, Jan 30 2016

    geoffrey, please note - Dollar rate was 67.3 on 28/8/2013.

    DisAgree [12] Agree [4] Reply Report Abuse

  • geoffrey, hat hill

    Sat, Jan 30 2016

    Now you please note, crude oil price was more than 120$/barrel on that day which is 32$ now! The difference in oil prices has made only made Ambani richer and made Rupee weaker. This is a fact no one can deny.

    DisAgree [1] Agree [3] Report Abuse

  • MASTHAN, DUB

    Sat, Jan 30 2016

    MODI STILL THINKING THAT 1$ = 45 RS

    PLZ SHOW MODI LATEST XE.

    HE MIGHT RESIGN AFTER SEEING THE ECONOMY.

    DisAgree [4] Agree [23] Reply Report Abuse

  • MASTHAN, DUB

    Sat, Jan 30 2016

    MODIS BRAIN IS NOT WORKING.

    GIVE HIM SOME BADAM.

    DisAgree [4] Agree [18] Reply Report Abuse

  • R.Bhandarkar, Mangaluru

    Sat, Jan 30 2016

    O.K.
    Prices of essential commodities increased by 75%..Yes or no?

    DisAgree [5] Agree [25] Reply Report Abuse

  • VM, Moodbidri

    Sat, Jan 30 2016

    No. Not at all.

    DisAgree [16] Agree [2] Reply Report Abuse

  • Santan Mascarenhas, Kinnigoli/Mumbai

    Sat, Jan 30 2016

    Yes, but inflation has not ruined everything. A rupee can still be used as a screwdriver !

    DisAgree [2] Agree [8] Reply Report Abuse

  • R.Bhandarkar, Mangaluru

    Sat, Jan 30 2016

    At this rate, rupee notes of various denominations can be used as tissue papers without any issue.

    DisAgree Agree [7] Reply Report Abuse

  • John, Udupi

    Sat, Jan 30 2016

    Dear Modiji, we do not want claims without proof!. Please show how and where the investment was made and on what basis 39% was calculated!. We are tired of these repeated claims without any credible backup. Also we dont require FDI to make baby diapers, toilet paper, Soaps, selling packed food, sewing needles manufacture and such things which we can ourselves do with little government support in terms of ease of doing business. We want FDI in hi tech areas where we are lacking and which will make a nation strong. Has this been the case Modiji! ?

    DisAgree [2] Agree [22] Reply Report Abuse

  • Abhijit, M'lore

    Sat, Jan 30 2016

    You can check all the details in Make in India website.

    DisAgree [15] Agree [6] Reply Report Abuse

  • John, Udupi

    Sat, Jan 30 2016

    Abhijit, I checked the website but it has nowhere mentioned about the 39% increase in FDI or any such details!. Please dont mislead!. Check for yourself first and dont believe hearsay!

    DisAgree [4] Agree [12] Reply Report Abuse

  • Abhijit, M'lore

    Sat, Jan 30 2016

    Dear did I say that the Percentage Increase is mentioned in that sire???
    I said about the sectors allowed for FDI.
    Do you have any evidence to conter Modi's claim of FDI increase???
    collect some information from other sites too.

    DisAgree [7] Agree [3] Report Abuse

  • John, Udupi

    Sat, Jan 30 2016

    What is meant by 'All the details'!?. Secondly, I don't have information to counter the claim but I am requesting to back the claim with credible data!.

    DisAgree [2] Agree [6] Reply Report Abuse

  • Abhijit, M'lore

    Sat, Jan 30 2016

    Dear John for your Kind Info (Courtesy - Wikipedia) -
    January–June 2015

    In January 2015, the Spice Group said it would start a mobile phone manufacturing unit in Uttar Pradesh with an investment of � crore (US$74 million). A memorandum of understanding was signed between the Spice Group and the Government of Uttar Pradesh.[19]

    In January 2015, Hyun Chil Hong, the President & CEO of Samsung South Asia, met with Kalraj Mishra, Union Minister for Micro, Small and Medium Enterprises (MSME), to discuss a joint initiative under which 10 "MSME-Samsung Technical Schools" will be established in India.[20] In February, Samsung said that will manufacture the Samsung Z1 in its plant in Noida.[21]

    In February 2015, Hitachi said it was committed to the initiative. It said that it would increase its employees in India from 10,000 to 13,000 and it would try to increase its revenues from India from ¥100 billion in 2013 to ¥210 billion. It said that an auto-component plant will be set up in Chennai in 2016.[22]

    In February 2015, Huawei opened a new research and development (R&D) campus in Bengaluru. It had invested US$170 million to establish the research and development centre.[23][24] It is also in the process of setting up a Telecom hardware manufacturing plant in Chennai, the approvals of which have been granted by the central government.[25] Also in February, Marine Products Export Development Authority said that it was interested in supplying shrimp eggs to shrimp farmers in India under the initiative.[26]

    In February 2015, Xiaomi began initial talks with the Andhra Pradesh government to begin manufacturing smartphones at a Foxconn-run facility in Sri City. On 11 August 2015, the company announced that the first manufacturing unit was operational and introduced the Xiaomi Redmi 2 Prime, a smartphone that was assembled at the facility.[27] Xiaomi India chief utive Manu Jain stated, "We announced our Make in India plans in the beginning of this year (To b Continued)

    DisAgree Agree [1] Report Abuse

  • Abhijit, M'lore

    Sat, Jan 30 2016

    On 8 August 2015, Foxconn announced that it would invest US$5 billion over five years to set up R&D and hi-tech semiconductor manufacturing facility to be set up in Maharashtra.[30] Less than a week earlier, General Motors had announced that it would invest US$1 billion to begin manufacturing automobiles in the state.[31]

    On 18 August 2015, Lenovo announced that it had begun manufacturing Motorola smartphones at a plant in Sriperumbudur near Chennai, run by Singapore-based contract manufacturer Flextronics International Ltd. The plant has separate manufacturing lines for Lenovo and Motorola, as well as quality assurance, and product testing. The first smartphone manufactured at the facility was the 4G variant of the Motorola Moto E (2nd generation).[32][33]

    On 16 October 2015, Boeing chairman James McNerney said that the company could assemble fighter planes and either the Apache or Chinook defence helicopter in India.[34] The company is also willing to manufacture the F/A-18 Super Hornet in India if the Indian Air Force (IAF) were to purchase it.[35]

    In November 2015, Taiwan's Wistron Corp, which makes devices for companies such as Blackberry, HTC and Motorola, announced that it would begin manufacturing the devices at a new factory in Noida, Uttar Pradesh. A company spokesperson stated, "The government's 'Make in India' campaign, coupled with the country's growing consumption, makes an excellent case for the Indian manufacturing sector to emerge as a global manufacturing hub across sectors."[36]

    On 30 November 2015, the Ministry of Railways signed formal agreements with Alstom and GE Transport worth � billion (US$5.9 billion) to set up locomotive manufacturing factories in Madhepura and Marhaura in Bihar.[37]

    In December 2015, Qualcomm announced that it was starting a "Design in India" programme to help mentor up to 10 Indian hardware companies with the potential to come up with innovative solutions and help them reach scale.

    DisAgree Agree [1] Report Abuse

  • Abhijit, M'lore

    Sat, Jan 30 2016

    Dear John - In order to get the credible data you should search in proper place like Wikipedia or some foreign news reports (as they are not biased) rather than commenting blindly.

    DisAgree Agree [1] Report Abuse

  • John, Udupi

    Mon, Feb 01 2016

    Abhijit, you told me all details available in make in India website!. But you yourself posting junk from Wikipedia which is not official nor credie!. Check other credible information and find out how much of the things you posted have actually materialized as of now!. I too tried to check what you have posted but more than 90% are still in the same stage as you have mentioned!. Rafale is a glaring example!

    DisAgree Agree Reply Report Abuse

  • geoffrey, hat hill

    Sat, Jan 30 2016

    'Biggest beneficiary of any reform should be the poor'
    - Good aspiration! But the reality is different, for we all now who the real beneficiary is.
    Even with considering the number given by PM to be true as far as FDI is concerned, what has been the outcome in the last 18 months? Exports hitting a new low every month? And Rupee declining from 58 a dollar to 68?

    DisAgree [1] Agree [12] Reply Report Abuse

  • Michael Noronha, Mysuru

    Sat, Jan 30 2016

    What India needs is favourable balance of payments position where exports exceed imports. That is the true measure for an effective and successful Government. Has the Central government which promised during elections ensured this? No point is saying that you came to power just 2 years ago and you need another 20 years to make all your promises come true. NDA has come to power earlier too and failed to deliver on their promises.

    DisAgree [3] Agree [5] Reply Report Abuse

  • Valerian D'souza, Udupi / Mumbai

    Sat, Jan 30 2016

    Propaganda machine is working overtime.
    One who speaks a lot seldom delivers.
    But we should appreciate truthful action for the welfare of masses, be it from anyone.

    DisAgree [1] Agree [10] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sat, Jan 30 2016

    Even Hema Malini turned out to be FAKE ...

    DisAgree [6] Agree [23] Reply Report Abuse

  • Eric Coelho, Mangalore

    Sat, Jan 30 2016

    Can we believe every word of our PM, who won his election campaign through fake promises and photoshopped pictures. He even faked his education certificate. Intl. oil prices crashed but oil price decreased only Rs. 10 to Rs. 15. Exports have fallen down drastically, Industrial production too down, Rupee crashed against dollar and a hypothetical statement - there is going to be mayhem in the stock market. We are looking for a change and that too a good and honest leader.

    DisAgree [3] Agree [16] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sat, Jan 30 2016

    With 39% percent increase in FDI,
    Dollar price should have crashed ...

    DisAgree [5] Agree [24] Reply Report Abuse

  • ABDUL RAFIQ, UCHILA

    Sat, Jan 30 2016

    Oh really!!!That's why oil price, food prices are high rocketing. And Indian Rupees under coma...Rs.68 against USD. There should be some limit for fekugiri.

    DisAgree [2] Agree [26] Reply Report Abuse

  • Bhaskar, Cleveland usa

    Sat, Jan 30 2016

    It is very good that India's leaders are attempting to raise the economy of our country and they have done an excellent job to some extent. However, I noticed recently that the value of the rupee has simultaneously fallen sharply in foreign markets, which might lead to more investment in India but also inflation and higher prices in India for imported goods and items. Also what will happen in the years to come when these investments and loans have to be paid back, usually at higher predatory rates, as perhaps in Greece, Portugal, Spain or Ireland?

    DisAgree [6] Agree [9] Reply Report Abuse

  • JNB, Mangalore

    Fri, Jan 29 2016

    some more ONIONS

    DisAgree [3] Agree [7] Reply Report Abuse

  • nagesh nayak, bangalore

    Fri, Jan 29 2016

    THANK GOD NOW OUR COUNTRY IS RULED BY ENERGETIC , HONEST AND PATROITIC LEADER .

    WE ARE LUCKY TO HAVE LEADER LIKE SHRIMAAN NARENDRA MODIJI.

    HATS OFF TO HIM FOR HIS HARDWORK .

    ALL WORLD LEADERS ARE IN QUEUE TO INVITE SHRIMAAN NARENDRA MODIJI TO HAVE GUIDNACE.

    JAI MODIJI.

    DisAgree [38] Agree [12] Reply Report Abuse

  • Ranjith Rodrigues, udupi

    Sat, Jan 30 2016

    Nagesh Nayak,
    ATLEAST FOR A CHANGE, YOU DID NOT SAY SHRIMAAN YEDDIURAPPA ANYWHERE IN YOUR MESSAGE...SO, I THINK YOU HAVE IMPROVED IN MASALA MAKING..

    DisAgree [2] Agree [14] Reply Report Abuse

  • Rampo, udupi

    Sat, Jan 30 2016

    Atleast, nagesha did not say "all world leaders are in queue to invite shrimaan yediurappaji to have guidance"...

    DisAgree [1] Agree [13] Reply Report Abuse

  • Rampo, udupi

    Sat, Jan 30 2016

    At least, nagesha did not say "all world leaders are in queue to invite shrimaan yediurappaji to have guidance"...

    DisAgree [1] Agree [9] Reply Report Abuse

  • Joseph F. Gonsalves, Bannur, Puttur / Mangalore

    Fri, Jan 29 2016

    In the world tours FDI has flowed to 39%. Chaaiwaala's target is flow of FDI to India 100 Percent. So still plenty of world tours balance to be accomplished.

    DisAgree [9] Agree [34] Reply Report Abuse

  • FREDERICK, Shirthady / Doha

    Fri, Jan 29 2016

    One more JUMLA, prices of food items, fuel not coming down, farmers's suffering increasing.

    DisAgree [6] Agree [43] Reply Report Abuse

  • Swamy, Mangalore

    Fri, Jan 29 2016

    Modi Bhai don't blow your trumpet so loudly. Say thanks to Saudi Arabia for flooding the market with oil and plunging the oil prices. So, western countries can not keep up thier economy with so low oil price but for India it is a boon. Wait for 6 months and then see the situation when oil prices go up!!!!!!

    DisAgree [6] Agree [45] Reply Report Abuse

  • Sumit Shanbhag, Manipal

    Fri, Jan 29 2016


    Total Feku claim to mislead the general public....

    Just file a RTI application & you will come across reality.

    DisAgree [8] Agree [54] Reply Report Abuse


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