Foreign Direct Investment in India - 1947-2007

The last two decades of the 20th century witnessed a dramatic world-wide increase in foreign direct investment (FDI) accompanied by a marked change in the attitude of most developing countries towards inward FDI. The initial policy stimulus to foreign direct investment in India came in July 1991 when the new industrial policy provided inter alia automatic approval for projects with foreign equity participation up to 51% in high priority areas. In recent years the government has initiated the second generation reforms under which measures have been taken to further facilitate and broaden the base of foreign direct investment in India. This book is devoted to a descriptive and analytical study of FDI trends and policies in India during the post-Independence period.