Apr. 13 – Foreign direct investment (FDI) to India for the fiscal year starting April 2008 to February 2009 amounted to US$25.38 billion; a higher figure compared against the previous year’s US$24.57 billion.

Expansion remained active throughout the period despite the global credit crisis. During the crisis’ height, FDI flow to India from September to January reached US$9.2 billion, still higher compared to the same period last year at US$7.9 billion.

For the month of February, FDI inflows to the country dropped to US$1.49 billion from US$5.67 billion a year ago. The figure is more than a 73 percent year-on-year plunge.

The secretary of DIPP, Ajay Shankar, told UTVi that while inflow for February was  lower than the January’s  FDI inflow of US$2.733 billion:”Despite the extereme downturn, FDI data is quiet encouraging.” He added, “Cement and steel sectors are likely to do well this fiscal.”

“FDI is showing positive signals,” Tushar Poddar, an economist with Goldman Sachs told The Economic Times: “We expect FDI inflows to remain significant in 2009-10, given India’s relatively resilient domestic demand momentum.”