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India sees huge jump in FDI inflows despite global woes

India sees huge jump in FDI inflows despite global woes
PTI
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First Published: Wed, Nov 05 2008. 02 24 PM IST
Updated: Wed, Nov 05 2008. 02 24 PM IST
New Delhi: India received foreign direct investment of $2.56 billion in September this year, showing an increase of 259% over the FDI inflows in the same month in 2007-08, despite the global credit squeeze.
The cumulative FDI of $17.21 billion during the April-September period also showed an impressive growth rate of 137% against $7.25 billion in the first half of the previous fiscal.
“Despite troubles in the world economy, India continued to attract FDIs and the target of $35 billion for 2008-09 fiscal would be achieved,” Commerce and Industry Kamal Nath said.
During the first five months of the current fiscal, the country received maximum FDI from Mauritius ($5.27 billion), followed by Singapore ($1.72 billion), the US ($1.15 billion) and the Netherlands ($580 million).
The manufacturing sector received $5 billion during the April-August period, showing a rise of 41% over inflows in the year-ago period.
The other sectors attracting FDI inflows during the period were services ($2.34 billion), followed by construction activities ($1.64 billion), housing and real estate ($1.62 billion) and computer hardware and software ($1.36 billion)
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First Published: Wed, Nov 05 2008. 02 24 PM IST