India has received USD 358.3 billion foreign direct investment (FDI) in the last six financial years (2014-20), Minister of State for Commerce and Industry Som Parkash informed the Lok Sabha on Wednesday. He said that investment outreach activities are being carried out for enhancing international co-operation to promote FDI and improve ease of doing business in the country. “In the last six financial years (2014-20), India has received FDI inflow worth USD 358.30 billion which is 53 per cent of the FDI reported in the last 20 years (USD 681.87 billion),” he said in a written reply to the Lok Sabha.
Replying to a separate question on gold imports, Minister of State for Commerce and Industry Hardeep Singh Puri said India has imported 306.55 tonnes of the yellow metal during April-December 2020. The import stood at about 720 tonnes in 2019-20 and 982.71 tonnes in 2018-19, Puri said. Replying to a question on water exports, Puri said India has exported 3,45,511 litres of water (including mineral water and aerated water) during April-November 2020-21. In 2019-20, the exports stood at 5,46,287 litres. Puri also informed the Lok Sabha that the trade deficit between India and China stood at USD 25.17 billion during April-November 2020.
“The Government of India has made sustained efforts to achieve a more balanced trade with China, including bilateral engagements to address the non-tariff barriers on Indian exports to China,” he said. On a question regarding the World Trade Organisation (WTO), he said the US and European Union (EU) have flagged certain trade-related issues, including increase in import duties, during the recently held TPR (trade policy review) meetings. “Some Member countries, including USA and the EU, raised certain questions regarding MFN (most favoured nation) applied tariff rates, agricultural support programme such as MSP (minimum support price) etc. Replies thereto have been given to the WTO,” he added.