India's share in global FDI doubles to 2.45%

India's share in the global Foreign Direct Investment has almost doubled to 2.45 per cent in 2008 compared to last year, Commerce and Industry Minister Anand Sharma informed the Lok Sabha on Monday.

India was fourth in 2008, in terms of FDI inflows, among developing countries, he said referring to UNCTAD World Investment Report (WIR) 2009.

The minister, however, said, "During the global economic downturn in 2008-09, FDI inflows grew by only 2 per cent over the previous year compared to the growth of 51 per cent in 2007-08 (as per international best practices)."

During 2008-09, India attracted FDI inflows worth $35.17 billion, according to UNCTAD WIR 2009.

But in 2009-10, FDI equity inflows for months of June, July, August and October 2009 have shown an increasing trend compared to the same period in 2008-09, he said.

Further, he said, the government has put in place a simple and transparent policy for FDI, including investments from NRIs. FDI policy is reviewed on an ongoing basis through inter-ministerial consultations with a view to attract FDI in more industries and sectors.