India FDI drops 50-pct to billion dollars in Nov

NEW DELHI, Dec 28 (AsiaPulse) – Reflecting the economic
slowdown in the world’s major economies, foreign direct
investment into India dipped by over 50 per cent to US$1.16
billion in October for the second month in a row. The country had received US$2.33 billion overseas investment
in the same month last year. In September, the inflows were at
US$ 1.76 billion, down by 16.5 per cent year-on-year.

However, during the April-October period, the FDI went up by
50.3 per cent to US$ 20.8 billion, from US$ 13.84 billion in
the year-ago period as inflows were robust in the initial
months, a senior government official said.

While in August foreign investment inflows had increased
over two-fold to US$ 2.83 billion, year-on-year, in July they
declined after a significant jump for two consecutive months —
May and June.

Despite uncertainties in the global economy, FDI may touch
US$ 35 billion in 2011-12, as against US$ 19.4 billion in the
last fiscal on account of major deals like RIL-BP and Posco,
the official added.

In 2010-11, equity inflows through the FDI route had dipped
25 per cent to US$ 19.43 billion, from US$ 25.6 billion in
2009-10. In 2008-09, FDI stood at US$ 27.3 billion.

According t