Foreign direct investment or FDI in India during December 2011 declined by 33 percent to $1.35 billion or Rs.7,124 crore from the $2.01 billion or Rs.9,094 crore in December 2010, the PTI reported.
During April-December FDI increased by 51 percent to $24.18 billion from the $16.03 billion in the corresponding period last year, mainly due to higher FDI inflows during the April-June quarter.
The cumulative figure has also surpassed $19.43 billion which came in the fiscal year 2011, an official said.
In April, May and June, the country received FDI worth $3.12 billion, $4.66 billion and $5.65 billion, respectively.
Analysts expects the current fiscal year's FDI to cross $30 billion, which will have a positive impact on rupee in the foreign exchange market. An economist said, "Despite decline in December 2011, FDI will cross $30 billion...but government should take steps to boost investors confidence."
The rupee had fallen 15 percent last year due to the FII selling pressure in the stock market and rising trade deficit. The trend has reversed since the start of this year.
During the 9-month period, services sector received large inflows of $4.57 billion, followed by pharmaceuticals $3.19 billion, telecom $1.98 billion, construction $1.60 billion, power $ 1.44 billion and metallurgical industries $1.49 billion.
During the period, India received highest FDI from Mauritius ($8.24 billion), Singapore ($3.99 billion), Japan ($2.68 billion), UK ($2.57 billion), Germany ($1.39 billion), Netherlands ($1.07 billion) and Cyprus ($1.02 billion), the official added.
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