India receives $24.57 bn FDI in FY08, $35 bn target for FY09

India receives $24.57 bn FDI in FY08, $35 bn target for FY09
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First Published: Fri, May 02 2008. 04 47 PM IST
Updated: Fri, May 02 2008. 04 47 PM IST
PTI
New Delhi: High on the radar of global investors, India received $24.57 billion of foreign direct investment in 2007-08, prompting the world’s second fastest growing economy to set an FDI target of $35 billion for the current fiscal.
The FDI inflows in 2007-08 saw an increase of 56.5% over $15.70 billion in the previous year. India, which saw a GDP growth of 8.7 per cent in 2007-08, aims to more than double its FDI inflows between 2006-07 and end of the current financial year.
“India remains attractive investment destination and it will be a good parking lot for money. FDI inflows reflect growing confidence (of global investors) in India,” Commerce and Industry Minister Kamal Nath said while releasing the FDI data on Friday
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First Published: Fri, May 02 2008. 04 47 PM IST