FDI dips in Feb but annual inflows show growth

Foreign direct investment to India dipped to USD 1.49 billion in February from USD 5.67 billion a year ago amid the global credit crunch,but inflows in the 11-month period (April-February 2008-09) of the fiscal have already crossed the inflows in the entire preceding fiscal.

Despite over 73 per cent year-on-year drop in inflows in February,the FDI for the 11-month period of fiscal 2008-09 has aggregated to USD 25.38 billion against USD 24.57 billion in the previous fiscal,an official said.

Inflows remained robust in the first half of 2008-09 but with the deepening of international financial crisis,it slowed down.

Though the country would not achieve even the truncated FDI target of USD 30 billion in 2008-09,it has already seen an inflow expansion in the midst of difficult global environment.

India’s cumulative FDI inflows from April 2000 to February 2009 stands close to USD 88 billion.