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FDI jumps two-fold to $2.83 bn in August

The India received foreign direct investment worth $2.83 billion in August,an over two-fold jump compared to that in the same month last year,an official said

Written by Press Trust Of India | New Delhi |
October 4, 2011 12:05:53 am

The India received foreign direct investment (FDI) worth $2.83 billion in August,an over two-fold jump compared to that in the same month last year,an official said today.

In August 2010,the country had attracted FDI worth $1.33 billion.

Foreign inflows,in July,had declined after a significant jump for two consecutive months in May and June.

In June,the inflows saw an annualised increase of 310 per cent to 11-year record of $5.65 billion,while in May,the inflows touched $4.66 billion showing an impressive 111 per cent over the same month last year. In July,however,it declined by 38 per cent.

For the April-August period,FDI went up by 95 per cent to $17.37 billion from $8.89 billion in the year-ago period as inflows were robust in the initial months,the official said.

Despite uncertainties in the global economy,FDI may touch $35 billion in 2011-12,as against $19.4 billion in the last fiscal on account of major deals like RIL-BP and Posco,the official added.

In the previous fiscal,equity inflows through the FDI route dipped 25 per cent to $19.43 billion from $25.6 billion in 2009-10. In 2008-09,FDI stood at $27.3 billion.

Mauritius,Singapore,the United States,the United Kingdom,the Netherlands,Japan,Germany and the UAE are major sources of FDI for India.

During the period,the sectors that attracted the maximum FDI include services,construction activities,power,computers and hardware,telecommunications and housing and real estate.

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