FDI Inflows In August Dip 60% .

Foreign direct investment or FDI in India in August dipped for the third consecutive month, by around 60 per cent to $1.33 billion from the $3.26 billion in August last year, due to weak global economic recovery, reports say.

Contrary to the smart recovery in the domestic economy and a rebound in exports, investment from overseas slackened this fiscal, said an official.

For the April-August period of this fiscal, FDI inflows were $8.92 billion, compared with the $13.8 billion in the corresponding period last year, a 35 per cent decline, the official said.

The main reason for the decline is the slump in major western economies, including the US and Europe.

Source : rttnews.com