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.

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