The FDI inflows in July this year was at US$3.51 billion against US$2.25 billion in the same month last fiscal. In June this year the figure was at US$2.58 billion.
However, the total inflows during the April-July period contracted by about 15 per cent to US$10.53 billion over the same quarter of 2008-09, due to poor accruals in the opening months of the fiscal. In the first four months of 2008-09 it was at US$12.32 billion. “We are hopeful that by the end of this financial year, FDI would be over US$30 billion,” the official added. In 2008-09, the government had set a target of US$35 billion, but was able to receive only US$27.3 billion due to the meltdown in the global financial markets.
The FDI inflows fell significantly from October 2008 and the monthly data remained lacklustre till June.
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