"The buoyancy in FDI in the first six months is likely to continue in the second half of the year as well exceeding the target of $9-10 billion," Commerce and Industry Minister Kamal Nath said on Monday.
In September 2006, FDI inflows grew 225 per cent to $916 million as compared to $282 million in the same month last year.
The Chennai region, including Pondicherry, recorded the maximum growth of 211 per cent, attracting $437.3 million in FDI, largely due to greater activity in computer hardware and leather.
In absolute terms, Delhi region continues to remain on top of the table with $936.5 million FDI inflows, showing a growth of over 25 per cent. The Mumbai region was second on the chart with total inflows of $867.5 million.
Helped by Comprehensive Economic Cooperation Agreement, Singapore moved ahead of the US and UK as the second biggest source of FDI inflows. Mauritius, because of the Double Taxation Avoidance Agreement, is still the largest source of investment with $2.45 billion.
Services attracted maximum investment of $1.5 billion showing growth of 350 per cent the growth. Telecom sector with inflows of $405 million showed the maximum growth of 950 per cent.
DSP Merrill Lynch and AAA Global Ventures of Singapore are the top two investors, together bringing in more than $850 million.
Mphasis BFL, which has been acquired by EDS, has attracted an investment of $365 million, while Maxis Communications of Malaysia, which acquired stake in Aircel, has brought in another $278 million.
Other major inflows included $138 million in India Bulls, $97 million in Citi Financial Consumer and $70 million in Orange Reality Limited.
Writer and Publisher Limited, engaged in the printing and publishing of newspapers, has also attracted FDI of $32.29 million.
Nath said the National Manufacturing Competitiveness Council's target of more than 12 per cent growth in manufacturing in the 11th plan period has been achieved in the last year of the 10th plan itself.
