FDI dips 54% to $1.16 bn in September

India received 54 per cent less inflows of foreign direct investment (FDI) at $1.16 billion in September on a yearly basis after recording a growth in the previous two months.

FDI inflows in September last year stood at $2.5 billion.

"In the first six months of the current financial year, we received FDI inflows of $15.3 billion," Commerce and Industry Minister Anand Sharma said.

The inflows during April-September 2008-09 was $17.2 billion.

In August, the country received FDI worth $3.26 billion, a robust growth of 40.51 per cent over the same month last year. The FDI was $3.51 billion in July while it was $2.25 billion in the same month last fiscal.

In 2008-09, the government had set a target of attracting $35 billion FDI, but was able to receive only $27.30 billion due to the global financial crisis.

The FDI inflows fell significantly from October 2008 and the monthly data remained lacklustre till June.

The World Bank's 'Doing Business Index' report ranked India at 133 position, a notch below last year. It said business environment in the country had become tougher this year.