FDI plunges 48% to $1.04 billion in January

The weak economic recovery, especially in European nations, resulted in foreign direct investment (FDI) inflows to India plunging by 48 per cent to $1.04 billion in January, compared to the same period last year.

In January 2010, India attracted FDI worth $2.04 billion. During the ten-month period (April-January) of the current financial year, FDI declined by 25 per cent to $17 billion over the year-ago period. India received $22.9-billion FDI during April-January 2009-10. “The numbers are reflect we will not be able to touch the FDI figure of the previous financial year,” said a source, adding, “It is a matter of great concern”. In 2009-10, FDI fell to $25.88 billion from $27.33 billion in the previous financial year.