FDI inflows during December 2009 stood at US $ 1.542 billion

FDI inflows during December 2009 stood at US $ 1.542 billion

Shri Anand Sharma, Union Minister of Commerce & Industry, has stated that the FDI inflows for the month of December, 2009 have been of the order of US $ 1.542 billion. Addressing a press conference here today he informed that this is an increase of 13%, in US $ terms, over inflows in the month of December, 2008 (previous year), which were US $ 1.362 billion.

Interacting with the media persons, Shri Sharma said that this is reflective of the trend seen from the month of June, 2009 onwards, wherein FDI inflows for almost all months in the current financial year (excepting only September, 2009) have shown an increasing trend over the FDI inflows of the same months in the previous financial year (2008-09). “Keeping in view this momentum, it is quite likely that the total inflows in the current financial year (2009-10) exceed the total inflows received during the last financial year (2008-09)”, he said.

The Minister said that this is despite the fact that the UNCTAD World Investment Report, 2009, had noted a fall of global FDI inflows, from a historic high of 1.979 billion in 2007 to 1.697 billion in 2008, a decline of 14%. UNCTAD had subsequently predicted a fall in global FDI investment flows by 30%, from US $ 1.7 trillion in 2008 to US $ 1.2 trillion in 2009.

Cumulative FDI inflows for the current financial year (April, 2009 to December, 2009) have been US $ 20.92 billion. These are comparable to the FDI inflows for the same period (April, 2008 to December, 2008) in the previous financial year, which were of the order of US $ 21.15 billion. The corresponding figure for April, 2007 to December, 2007 was US $ 12.70 billion. With this, total FDI into India since the onset of the liberalisation process (August, 1991-December, 2009) is nearly US $ 127.46 billion.