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FDI dips 54 pct in September

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Agencies

Posted: Nov 04, 2009 at 2026 hrs IST

New Delhi India received 54 per cent less inflows of foreign direct investment at USD 1.16 billion in September on a yearly basis after recording a growth in the previous two months.

Foreign Direct Investment inflows in September last year stood at USD 2.5 billion.

"In the first six months of the current financial year, we received FDI inflows of USD 15.3 billion," Commerce and Industry Minister Anand Sharma said.

The inflows during April-September 2008-09 was USD 17.2 billion.

In August the country received FDI worth USD 3.26 billion, a robust growth of 40.51 per cent over the same month last year. The FDI was USD 3.51 billion in July while it was USD 2.25 billion in the same month last fiscal.

In 2008-09, the government had set a target of attracting USD 35 billion FDI, but was able to receive only USD 27.30 billion due to the global financial crisis.

The FDI inflows fell significantly from October 2008 and the monthly data remained lacklustre till June.

The World Bank's 'Doing Business Index' report ranked India at 133 position, a notch below last year. It said business environment in the country had become tougher this year.

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