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| FDI inflows rise 10% to $1.5 bn in Dec |
| Press Trust of India / New Delhi Feb 04, 2010, 15:01 IST |
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India received $1.5 billion foreign direct investment (FDI) in December 2009, an increase of over 10 per cent over that in the same month of previous year, a government official said today. FDI was $1.36 billion in December 2008.
The overseas inflows, however, declined marginally to $20.9 billion in April-December compared to $21.15 billion in the corresponding period last year, the official said.
This is the third consecutive month that FDI inflows have posted a healthy year-on-year jump.
In October 2009, FDI grew by 56 per cent to $2.3 billion; while in November, it surged by 60 per cent to $1.74 billion against $1.08 billion in November 2008.
In a move to push FDI inflows further, the Commerce and Industry Ministry has released a draft document that consolidates FDI policy notified through 177 Press Notes so far into a single regulatory framework.
The move is aimed at providing a greater clarity on the existing rules to foreign investors, but will not change the current FDI norms or sector specific caps.
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