 "Jitin Prasada, Jitin")
Foreign direct investment inflows in the manufacturing sector during 2014-24 rose by 69 per cent to $165.1 billion, Parliament was informed on Friday.
In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Jitin Prasada said that India is rapidly emerging as a preferred country for foreign investment in the manufacturing sector
" FDI equity inflow in the manufacturing sectors in the last ten financial years (2014-24) has increased by 69 per cent to $165.1 billion as compared to $97.7 billion in the previous ten financial years (2004-14)," he said.
He also said that the total FDI inflow of $383.50 billion has been reported in the country during the past five financial years (2019-20 to 2023-24).
Replying to a separate question, he said that the initiatives taken by the Government have led to a decline in dependency on imports in several sectors including mobiles.
The import of mobile phones has decreased from Rs 48,609 crore in 2014-15 to Rs 7,674 crore in 2023-24.
On the other hand, the exports have increased from Rs 1,566 crore in 2014-15 to more than Rs 1,28,982 crore in 2023-24, he said.
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 "Rupee, Indian Rupee")
 "India-China trade, trade, India China")
 "Industry, economy, jobs, iron and steel")
 "Sajjid Z Chinoy, chief India economist, JP Morgan; Pranjul Bhandari, chief India economist, HSBC; Samiran Chakraborty, managing director & chief economist India, Citigroup; and Indranil Pan, chief economist, YES Bank")
 "Piyush Goyal, Piyush")
