FDI inflow up 13 percent in December

New Delhi, Feb 11 (IANS) Foreign Direct Investment (FDI) inflow for December was up 13 percent at $1.54 billion during December 2009 against $1.36 billion in the corresponding period a year ago, the government said Thursday.

The FDI equity inflow during April-December 2009 was $20.92 billion, while it was at $21.15 billion in the corresponding period in 2008.

‘This is the third consecutive month that FDI inflows have posted a healthy year-on-year jump. In October, FDI grew by 56 percent to $2.3 billion, while in November it surged by 60 percent to $1.74 billion,’ Commerce Minister Anand Sharma told reporters.

‘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),’ the minister added.

He said the increase was being seen at a time when the UNCTAD World Investment Report 2009 had noted a fall in global FDI inflows, from a historic high of $1.9 trillion in 2007 to $ 1.7 trillion in 2008, a decline of 14 percent.

The government also plans to come out with a single FDI document by March end.

‘We would come out with a single FDI document by March end. This would simplify and liberalize the FDI process and make the entire process for FDI more investor friendly. The new format will subsume all 177 press notes,’ the minister said.

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