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TN’s FDI share dwindles
Posted on: 17/Jul/2017 2:19:33 PM
Out of the total Foreign Direct Investment, FDI, Tamil Nadu accounted only for 2.9 percent out of total $44 billion to India in 2016. This is the lowest in the three years, say a recent report.
The United Nations Conference on Trade and Development for FDI, the Department of Industrial Policy and Promotion, and Ministry of Commerce, the trends in FDI inflows in India were analyzed including the trends in major states.
In this, India has got investments for tuning the $44 billion last year. Out of this, the share of Tamil Nadu is 2.9 percent which is #1.3 billion.
This has dwindled as compared to 11.2% ($3.92 billion) and 13.1% ($5.7 billion) in the years 2014 and 2015.
Out of 18, 6 places were rejected in 2016 for the business reform rankings as issued by the department of industrial policy and promotion, and the World Bank. All of these had lowest range of development. There were uncertain operating environment in the state because of the health state of former Chief Minister Jayalalitha.
The growth in manufacturing in Tamil Nadu was only 1.65% in 2016-17, say economic data in the state, as released by the RBI.
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