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FDI flows from Jan-June dip 18% y/y: govt

FDI flows from Jan-June dip 18% y/y: govt
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First Published: Mon, Aug 30 2010. 07 54 PM IST
Updated: Mon, Aug 30 2010. 07 54 PM IST
New Delhi: India’s foreign direct investment (FDI) inflows in the first six months of this year were down 18% to $10.78 billion from a year ago, the industry secretary said, on heightened risk aversion among global investors.
In 2009, India attracted $36.6 billion of FDI inflows, equivalent to 2.7% of its gross domestic product, compared with China’s $95 billion inflows, accounting for 1.95 of its GDP.
“We are comfortable with the (FDI) flows whatever we are getting... otherwise RBI (Reserve Bank of India) may have to intervene if there is excessive flows,” R.P. Singh told Reuters.
In June, the FDI flows into Asia’s third largest economy declined by 46.5% to $1.38 billion from a year earlier.
In the first seven months of this year, China attracted $58.35 billion of FDI inflows, up 20.7% from the same period in 2009.
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First Published: Mon, Aug 30 2010. 07 54 PM IST