At $4.66 billion, FDI in May second highest in 11 years

NEW DELHI: Foreign direct investment (FDI) into the country more than doubled in May from year ago, touching $4.66 billion against $2.21 billion in May last year. This is the second highest monthly FDI inflow since 2000. The rebound follows a dismal 2010-11 fiscal in which FDI dropped 25% to $ 19.4 billion. Foreign investors have shied away from India in the last year even as growth remained robust at above eight percent, amid mounting governance concerns and a decline in overall investment sentiment. “The recent trend of a dip in foreign direct investment inflows appears to have been reversed in the current financial year, where a significant upward trend is evident,” the industry ministry said in a statement on Monday. Source : Economic Times