Inflow of FDI in Railways and Insurance Sectors
FDI policy as contained in Consolidated FDI Policy Circular 2014 on Insurance was revised vide Press Notes dated 02.03.2015. FDI received in Insurance sector after the amendment of the policy and corresponding figures of the preceding period is as under:
Railway Infrastructure was opened to FDI vide Press Note dated 27.08.2014 and data on FDI inflows on this sector is not separately maintained.
Data is not maintained centrally for assessing the impact of FDI norms relaxation on the employment generation, for a particular sector. However, FDI directly supplements the domestic capital and brings technology and skill in the sectors of direct entry. It has indirect multiplier effects on other related sectors also thereby stimulating economic growth leading to increased production, exports and employment generation.
Government plays an active role in investment promotion, through dissemination of information on the investment climate and opportunities in India and by advising prospective investors about investment policies and procedures and opportunities. Further, FDI policy is reviewed on an ongoing basis, with a view to making it more investor friendly. Significant changes are made in the FDI policy regime, from time to time, to ensure that India remains an increasingly attractive investment destination.
This information was given by the Minister of State(Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Rajya Sabha on Wednesday.