India's FDI inflows in November up 54.8 pct to $1.64 bn, says govt

Written by Reuters | New Delhi | Updated: Feb 1 2014, 03:21am hrs
FDI inflowsTotal FDI inflows in the first eight months for the current fiscal year that ends in March were down 2 percent. Reuters
Foreign direct investment (FDI) inflows into India rose 54.8 percent in November to $1.64 billion compared with $1.06 billion a year ago, a government statement said on Friday.

Total FDI inflows in the first eight months for the current fiscal year that ends in March were down 2 percent from a year earlier at $15.46 billion, compared with $15.85 billion during the year-ago period, the statement said.

With a struggling economy, that grew at its slowest pace in a decade last fiscal year due largely to a lack of corporate investment, India desperately needs to attract foreign investments to regain its growth momentum.