i)With the government taking steps to improve ease of doing business and attracting investments, FDI inflows into the services sector grew by over 46% to $3.25 billion in 2014-15.
ii)The services sector, which includes banking, insurance, outsourcing, R&D, courier and technology testing, had received foreign direct investment (FDI) worth $2.22 billion in 2013-14.
However, the total foreign inflow in 2014-15 in the services sector was low as compared to 2012-13 when it was $4.83 billion, according to the Department of Industrial Policy and Promotion (DIPP) data.
iii)The government has announced a series of steps such as fixing timeliness for approvals to improve the ease of doing business in the country and attracting domestic as well as foreign investments.
In step with the growth in FDI in important sectors like services, overall foreign inflows in the country too rose by 27% to $30.93 billion during the previous fiscal. The amount was $24.29 billion in 2013-14.