FDI dips to $1.49 bn in February

Foreign direct investment to India dipped to $1.49 billion in February from $5.67 billion a year ago amid the global credit crunch, but inflows in the 11-month period (April-February 2008-09) of the fiscal have already crossed the inflows in the entire preceding fiscal.

Despite over 73 per cent year-on-year drop in inflows in February, the FDI for the 11-month period of fiscal 2008-09 has aggregated to $25.38 billion against $24.57 billion in the previous fiscal, an official said.

Inflows remained robust in the first half of 2008-09 but with the deepening of international financial crisis, it slowed down.

Though the country would not achieve even the truncated FDI target of $30 billion in 2008-09, it has already seen an inflow expansion in the midst of difficult global environment.

India's cumulative FDI inflows from April 2000 to February 2009 stands close to $88 billion.