Foreign Direct Investment inflows into India more than trebled to $11.4 billion in the first six months of 2007 as companies such as UK's Vodafone poured funds to tap the world's second-fastest growing economy.
Inflows for the first quarter of financial year 2007-08 went up by 185 per cent to $4.9 billion from $1.7 billion received during April-June last year. During January-June 2007, inflows rose 216 per cent compared to $3.6 billion in the corresponding period last year.
"This is a huge jump. The most important thing is that these are largely first-mile investments and are obviously going to grow in geometrical proportions," Commerce and Industry Minister Kamal Nath told reporters on Friday.
India remains a favourite destination of FDI 'despite what is going on in the stock market', he said.
Domestic bourses have fallen in