February 26, 2009

FDI inflow from NRIs steady despite recession

NEW DELHI: Global recession had no impact on Foreign Direct Investments (FDI) from Indians abroad as it has registered a rise in the current fiscal, the Lok Sabha was informed. Highlighting investment figures from the states, Minister for Overseas Indian Affairs Vayalar Ravi said: "There has been no decline in investment due to global recession during 2008 as compared to 2007." Goa and West Bengal figured as the highest investment attracting states with the former receiving Rs 30 crore and the latter Rs 20.3 crore in FDIs.

NRIs, Persons of Indian Origin (PIO) and Overseas Corporate Bodies (OCB) accounted for FDIs and Foreign Technology Cases (FTC) worth Rs 70 crore during January to September 2008 in comparison to Rs 65.8 crore for the period January to December 2007, Ravi told the Lok Sabha.

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