Foreign direct investment dips by 47% in May
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Last Updated: Monday, July 20, 2009, 19:07
New Delhi: Foreign direct investment (FDI) in India dipped by about 47 per cent to USD 2.1 billion in May due to the global recession and the trend is likely to continue for some more months, a senior government official said on Monday.

During the same month last year, FDI was USD 3.9 billion.

"The declining trend is likely to continue in the coming months," the official said.

FDI in the first two months of this fiscal is USD 4.43 billion, the official 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: Monday, July 20, 2009, 19:07

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