The government expects an inflow of $12 billion foreign direct investment into the country during FY07, a government official said on Saturday.Last year, the FDI flow was $8.4 billion, Ajay Dua, secretary in the department of industrial policy promotion, said speaking at the Bengal National Chamber of Commerce here.During the current year, of the $12 billion, $8 billion was expected to come in the form of equity and the balance from re-invested earnings and other capital inflows, Dua said.Countries like Taiwan, Japan and South Korea would be investing in India in a big way. A few Taiwanese firms were already in the process of setting up manufacturing units in India, Dua said.So far, the US was the largest contributor, followed by European Union states and the Netherlands. The government was also simplifying procedures to boost FDI inflow, Dua added.
