Press Trust of India / New Delhi Jul 20, 2009, 17:48 IST
Foreign direct investment (FDI) in India dipped by about 47 per cent to $2.1 billion in May due to the global recession and the trend is likely to continue for some more months, a senior government official said today.
During the same month last year, FDI was $3.9 billion.
"The declining trend is likely to continue in the coming months," the official said.
FDI in the first two months of this fiscal is $4.43 billion, the official said.
The government had scaled down the FDI target by $5 billion from $35 billion last fiscal. Cumulative FDI from April 2000 to March 2009 stands close to about $90 billion.
Thanks to robust trends in the first six months of the last fiscal, FDI in 2008-09 was $27.3 billion against $24.5 billion in 2007-08.
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