Foreign direct investment (FDI) in India rose by 24 percent to 3.95 billion U.S. dollars in April and May, the first two months of 2013-14 fiscal, as is compared with the same period last year, said a senior government official Monday.

Commerce and Industry Minister Anand Sharma told the Indian Parliament that as the Indian government "has put in place an investor friendly foreign direct investment policy, the FDI has increased." "FDI policy is reviewed on an ongoing basis, with a view to making it more investor friendly. Significant changes in the FDI policy regime have been made in the recent past to provide further openings for foreign direct investment in different sectors," he said.

The Indian government recently eased FDI restrictions in the telecom, aviation and defense sectors while drafting a final regulation on opening the country's lucrative retail sector to foreign investors.

However, some foreign corporations, including the retail giant Walmart, have cancelled plans to invest in India due to barriers in policy and regulations.

Meanwhile, the Indian rupee has fallen by more than 15 percent against the U.S. dollar since the beginning of the year.