FDI in Oct dips 40 pc to USD 1.4 billion

New Delhi, Dec 16 (PTI) After rising in September, Foreign Direct Investment (FDI) inflows in the country dipped by about 40 per cent to USD 1.4 billion in October over the same period last year.

In October 2009, FDI was USD 2.3 billion.

During the first seven months of 2010-11, India received FDI inflows worth USD 12.40 billion, according to Commerce and Industry Ministry.

The inflows during April-October this fiscal are also down by 29.7 per cent compared to USD 17.64 billion FDI rush witnessed in the comparable period of last year.

The inflows remained low-key despite a recent World Bank study saying that the FDI flows into developing countries, including India, is expected to recover over the next couple of years and is projected to increase by 17 per cent in 2010.