India's August FDI Rises 40%

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India's Foreign direct investment (FDI) for August rose 40.51% to $3.26 billion on-year, despite the adverse impact of global financial crisis, report the media, citing a Reserve Bank of India's bulletin. The country's FDI for July was $3.51 billion.

However, total FDI inflows during April-August declined 3.41% to $14.14 billion from $14.64 billion in the same period last year due to poor accruals in the opening months of the fiscal.

The RBI bulletin said portfolio investment grew 56.15% in August to $926 million.

During April-August, portfolio investment increased to $11.23 billion from $4 billion in the corresponding period last year.

In fiscal 2008-09, the country attracted FDI of $27.30 billion, as against the target of $35 billion set by the government, because of the then-prevailing global economic crisis.

(Market News Provided by RTTNews)