Retaining optimism despite the global downturn, the government said on Monday India will receive over $30 billion foreign direct investment this fiscal, though the country received $18.7 billion FDI in the first seven months of 2008-09.
"I hope we will exceed $30 billion ... I do believe that (the) momentum will continue," commerce and industry minister Kamal Nath told reporters on the sidelines of the CII Partnership Summit in New Delhi.
For achieving $30 billion, the country would need over $11 billion FDI in the last five months of the fiscal in the midst of a global credit freeze.
Riding on the back of impressive inflows of $25 billion in 2007-08, the government had aimed at $35 billion FDI for the current fiscal.
Despite the slowdown since October, both Nath and minister of state for industry Ashwani Kumar remain confident that the global investors would be upbeat on India even in the midst of the credit crunch.
Addressing the India-UK Business Council here, Kumar said, "FDI during 2008-09 will be 35 billion dollar... We were planning $40 billion but for the events (slowdown)".
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