November FDI inflows up 54.8% to $1.64 billion

But total FDI inflows for current fiscal yr down 2%

Foreign direct investment (FDI) inflows into India rose 54.8% in November to $1.64 billion compared with $1.06 billion a year ago, a government statement said on Friday.

Total FDI inflows in the first eight months for the current fiscal year that ends in March were down 2% from a year earlier at $15.46 billion, compared with $15.85 billion during the year-ago period, the statement said.

With a struggling economy, that grew at its slowest pace in a decade last fiscal year due largely to a lack of corporate investment, India desperately needs to attract foreign investments to regain its growth momentum.