FDI Inflows Dip By 25 Percent In January (10-Mar-2010)
India''s Foreign Direct Investment (FDI) inflows reduced by 25 % to $2.04 bn in January 2010 as compared to the corresponding period of the previous year, breaking a trend of positive growth in the previous 3 consecutive months.
An official said there is no specific reason why the inflows in January inched down. India''s total FDI by the end of the current financial year, will not be more than last financial year''s.
However, last year in January 2009, FDI inflows were $2.73 bn. India attracted FDI of $2.33 bn in October 2009, about 56 % jump over the same period last year, while in November FDI surged by 60 % to $1.73 bn.
The FDI increased by 13 % to $1.54 bn in December from $1.36 bn in the year-ago period.
In previous financial year, India received FDI of $27.3 bn, higher than $24.5 bn in 2007-08.
During April-January 2009-10, the FDI reduced by about 4 % to $22.96 bn from $23.86 bn in the corresponding period of the previous year.
The major sectors that received FDI include - services, computer software and hardware, telecommunications and housing and real estate.
Meanwhile, the government earlier this year had said that will form a working group in order to suggest ways to promote foreign investments other than foreign direct investment (FDI) into India.
This is since the economy requires huge funds to sustain its high growth rate.
However, the working group, to be represented by the government, regulators, and private sector, will review the existing policy on foreign institutional investors (FIIs), including through participatory notes, non resident Indians, foreign venture capital investors and private equity entities.
The group will identify challenges in meeting the financing needs of the economy through foreign investment, study arrangements relating to the use of participatory notes.
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