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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app