New Delhi: India's foreign direct investment
(FDI) declined by over 43 percent to around USD 2.2 billion
in May, 2009, compared to USD 3.9 billion in the same period
last year on account of global recession.
"FDI was around USD 2.2 billion in May," Department of
Industrial Policy and Promotion Secretary Ajay Shankar told
reporters on the sidelines of a seminar organised by
CII-Institute of Logistics.
And "we think that liquidity is improving and confidence
in the economy is rising. These numbers (FDI) should pick up,"
Shankar said.
The government had scaled down the FDI target by USD 5
billion from USD 35 billion last fiscal. Cumulative FDI from
April 2000 to March 2009 stands close to about USD 90 billion.
Thanks to robust trends in the first six months of the
last fiscal, FDI in 2008-09 was USD 27.3 billion against USD
24.5 billion in 2007-08.
Bureau Report
First Published: Wednesday, July 29, 2009, 15:27