MUMBAI: Two years of Narendra Modi government seems to have boosted foreign direct investment ( FDI ) in India after four year stagnation between 2009 and 2013.According to a Nomura research FDI jumped by 28 per cent compounded annual growth rate (CAGR) between 2014 and 2016. In 2016, total FDI inflows of $ 46.4 billion were up from the $ 39.3 billion in 2015 as share of GDP , FDI inflows stood at 2.1 per cent in 2016 from 1.9 per cent in 2015.The research added that not just the FDI has gone up the investments are being made across various sectors. “The composition of FDI inflows is also now more balanced. During 2014-15, the entire rise in FDI inflows was concentrated in the services sector. Although the services sector continues to take a lion’s share (~62%) of total FDI inflows, both industry (largely manufacturing) and services attracted higher inflows in 2016,” the research said.According to the research within manufacturing, autos is still the largest recipient of FDI, but cement, electrical equipment and metallurgical industries also attracted higher inflows in 2016. Similarly in services, IT, telecom and construction still attract large inflows, but new sectors such as media, banking, non-financial services and insurance also emerged as attractive FDI destinations in 2016. Overall, the direction as well as the composition (aggregate and sectoral) of FDI inflows is encouraging, in our view. We believe this is testament to India’s high growth rate, large potential and ongoing economic reforms. We expect this trend to continue.