Foreign Direct Investment in India down by 11 per cent
Foreign direct investment (FDI) in India down by 11 per cent year-on-year to $1.07 billion in the backdrop of financial turmoil in Europe. FDI in India declined for the third consecutive month in March to $1 billion. During the fiscal 2010-11, the inflows declined by 25 per cent to $19.43 billion, which makes it imperative for the country to fine-tune its policies to attract overseas investment. The FDI during 2009-10 had totalled $25.83 billion during 2009-10, which, too, was lower than $27.33 billion invested in the previous fiscal.
In January and February FDI dipped by 48 per cent ($1.2 billion) and 30 per cent ($1.04 billion), respectively, over the same period previous year. The sectors that attracted FDI include services, telecommunications, housing and real estate, construction activities and power.
Mauritius, Singapore, the US, the UK, the Netherlands, Japan, Germany and the UAE are the major investors in India. Foreign institutional Investors have invested $3.6 billion during January 1- May 5, 2011 period.
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