By IANS,
Brussels: Foreign direct investment (FDI) between India and the European Union (EU) declined sharply in 2008 amidst the global economic slump, the 27-member bloc’s statistical office said Thursday.
FDI from India into the EU as a whole dropped from 10 billion euros ($ 13.5 billion) in 2007 to 2.4 billion euros ($3.2 billion) in 2008, the Eurostat report said.
Similarly, FDI flow from the EU to India plunged drastically, amounting to a mere 0.9 billion euros last year compared to 10.9 billion euros ($17 billion) in 2007, EuAsiaNews reported, citing the figures.
In 2008, EU FDI in non-EU countries fell by 28 percent from 496 billion euros in 2007 to 354 billion euros in 2008, while FDI into the EU from the rest of the world decreased by 57 percent from 400 billion euros to 173 billion euros.
The EU invested 149 billion euros in the US last year, compared with 171 billion in 2007. The US’ investment in the EU countries amounted to 45 billion euros in 2008, compared to 194 billion euros a year ago.