New Delhi: India received foreign direct
investment of USD 3.26 billion in August, a robust growth of
40.51 percent over the same month last year, in spite of the
persisting global financial crisis.
FDI inflows, in August last year, stood at USD 2.32
billion, the Reserve Bank said in its bulletin.
The country attracted USD 3.51 billion FDI in July this
year against USD 2.25 billion in the same month last fiscal.
Portfolio investment in August also increased by 56.15
percent to USD 926 million compared to USD 593 million, the
bulletin said.
The total FDI inflows during April-August, however,
contracted by about 3.41 percent to USD 14.14 billion
compared to the same period in 2008-09, due to poor accruals
in the opening months of the fiscal. In the first five months
of 2008-09, it was at USD 14.64 billion.
During the first five months of this fiscal, portfolio
investment increased to USD 11.23 billion from USD 4 billion
in the same period last year.
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 the global financial crisis.
Bureau Report
First Published: Tuesday, October 13, 2009, 11:53