Foreign direct investment in India may erode sharply from the record USD 42 billion in 2008 with trans-national corporations (TNCs) going slow on expansion plans following the global financial meltdown, says an UNCTAD report.
Painting a grim picture on cross-border investments, UNCTAD on Thursday said global Foreign Direct Investment flows will shrink by 30 per cent this year and recover only marginally during the next year.
With the global "economic winter"
being far from over, the UN body UNCTAD on Monday projected much
lower growth of five percent for India in 2009 against
official and RBI forecasts of above six percent in the