By NNN-PTI,
New Delhi : Amidst global financial crisis, India’s foreign direct investment saw an impressive jump of 124 per cent in the first five months of the current fiscal, while the FDI flows in August went up by huge 180 per cent.
The country received FDI of 14.6 billion dollar during April-August 2008 against 6.5 billion dollar a year ago.
“This (increase in FDI) must be seen in the context of the global economic situation,” Commerce and Industry Minister Kamal Nath told reporters while releasing the FDI data.
He said that the target for the current fiscal would be met despite a difficult financial environment in the world. The FDI target for 2008-09 is 35 billion dollar, while the actual inflows during the previous year were 24.57 billion dollar.
In August alone, India’s FDI was 2.32 billion dollar, a rise of 180 per cent over the corresponding month last year.
The manufacturing sector received 5 billion dollar during April-August period, showing a rise of 41 per cent over inflows in the year ago period.