New Delhi: Foreign direct investment (FDI) into India snapped a three-month fall and rose 55% in January, an industry ministry official, who declined to be named, said on Tuesday.
FDI inflows between April and January grew 65% to $23.9 billion, he said. India has an FDI target of over $35 billion in the year to 31 March.
Inflows in January rose to $2.74 billion, the official said. In January 2008 FDI inflows stood at $1.77 billion, according to data available on the ministry’s website.
FDI into India fell in October through December from the corresponding months in the earlier year, the data shows.
The global financial crisis has dented global FDI flows, and the United Nations in January had said 2009 would see further declines from the 21% drop in the previous year, hitting developing countries like India