According to Union minister of Commerce and Industry Shri Kamal Nath, foreign direct investment (FDI) into India during the first quarter totalled $1.74 billion compared with $1.18 billion in the same quarter last year, a record increase of nearly 47%. FDI in June surged 102%, increasing to $534 million from $264 million in June 2005. 
   

The minister stated that continual reviews of India’s FDI policy and the simplification of procedures have contributed to the steady increase in FDI, in particular the surge witnessed in the first quarter.

“The investment climate in India is highly conducive for investments particularly from Taiwan, Korea and Singapore, who are looking at sites in India to locate their manufacturing facilities. A business delegation is visiting Taiwan later this month to attract investments particularly in electronic hardware, textile machinery and leather goods,” he added.