Foreign direct investment (FDI) in India's pharma sector more than doubled during the April-December period of financial year of 2013-14, while overall FDI into the country slipped 2 per cent during the same 9-month period, as per the latest stats released by the Department of Industrial Policy & Promotion (DIPP).

Newly released data showed that FDI in pharma sector jumped to USD 1.26 billion during the April-December period of FY2013-14, while overall FDI slipped to USD 16.56 billion.

India's new rules allow 100 per cent FDI in pharma sector through automatic approval route in the new projects, while FDI in existing firms are allowed only through the Foreign Investment Promotion Board (FIPB).

Nearly 97 per cent of the total FDI in the sector from April 2012 to April 2013 had come into brownfield, or existing pharma companies. U. S.-based pharma giant Mylan Inc gained approval for its proposal to acquire Indian generic drugs firm Agila Specialties for Rs 5,168 crore.

The fresh data retriggered concerns over growing acquisitions of domestic pharma firms by foreign companies. The department has already proposed harsher norms to arrest the spurt in multinationals taking over Indian pharma companies that produce rare and critical medicines.

Among other sectors, services received FDI worth USD 1.59 billion during the 9-month period; while automobile, construction and chemicals received FDI of USD 871 million, 914 million and 490 million, respectively.