India slips to 14th spot as FDI destination
Sujay Mehdudia
NEW DELHI, July 26, 2011
Indicating a serious crisis developing in foreign investment climate, India slipped to the fourteenth spot from the eighth position in the list of countries that attracted the highest foreign direct investment (FDI) last year.
Inflows into India declined by about $10 billion to $25 billion, according to the "World Investment Report 2011" released by United Nations Conference on Trade and Development (UNCTAD) here. According to the investment report, India ranked way below its competing neighbour China, which saw FDI inflows to the tune of $106 billion in 2010. India was in the eighth place in 2009.
The report said India attracted FDI worth $25 billion last year, much lower than the inflows of $36 billion seen in 2009. The United States saw the maximum $228 billion FDI, Hong Kong at $69 billion was number three, Belgium was the fourth largest FDI inflow destination at $62 billion.
Expressing concern over the continued declining trend in FDI into India, independent economic researcher, Premila Nazareth Satyanand, who released the report here on Tuesday, said the country needs to have a good investment climate. The report said FDI inflows worldwide climbed 5 per cent to about $1.24 trillion last year, compared to 2009. "FDI to South Asia declined to $32 billion, reflecting a 31 per cent slide in inflows to India and a 14 per cent drop in flows to Pakistan. By contrast, inflows to Bangladesh, a rising low-cost production location, increased by nearly 30 per cent to $913 million," the report said.
India saw FDI inflows of $19.42 billion in 2010-11. Presently, the FDI flow into the country is sluggish, especially due to uncertain global economic conditions.
India was also the fifth largest source of funds (FDI outflow) in developing Asia, helped by a string of major acquisitions in countries across the globe between 2007-2011. Among major buyouts that figured in the U.N. report were Tata Steel's acquisition of U.K.-based Corus group worth $11.8 billion and Hindalco Industries's acquisition of U.S. firm Novelis Inc worth $5.8 billion. Tata Motors also acquired U.K.-based Jaguar Cars for $2.3 billion, Essar Steel Holdings bought Canada's Algoma Steel Inc for $1.6 billion and United Spirits acquired Whyte & Mackay of U.K. for $1.17 billion.
Nguồn: The Hindu,
http://www.thehindu.com/business/Economy/article2296145.ece
NEW DELHI, July 26, 2011
Indicating a serious crisis developing in foreign investment climate, India slipped to the fourteenth spot from the eighth position in the list of countries that attracted the highest foreign direct investment (FDI) last year.
Inflows into India declined by about $10 billion to $25 billion, according to the "World Investment Report 2011" released by United Nations Conference on Trade and Development (UNCTAD) here. According to the investment report, India ranked way below its competing neighbour China, which saw FDI inflows to the tune of $106 billion in 2010. India was in the eighth place in 2009.
The report said India attracted FDI worth $25 billion last year, much lower than the inflows of $36 billion seen in 2009. The United States saw the maximum $228 billion FDI, Hong Kong at $69 billion was number three, Belgium was the fourth largest FDI inflow destination at $62 billion.
Expressing concern over the continued declining trend in FDI into India, independent economic researcher, Premila Nazareth Satyanand, who released the report here on Tuesday, said the country needs to have a good investment climate. The report said FDI inflows worldwide climbed 5 per cent to about $1.24 trillion last year, compared to 2009. "FDI to South Asia declined to $32 billion, reflecting a 31 per cent slide in inflows to India and a 14 per cent drop in flows to Pakistan. By contrast, inflows to Bangladesh, a rising low-cost production location, increased by nearly 30 per cent to $913 million," the report said.
India saw FDI inflows of $19.42 billion in 2010-11. Presently, the FDI flow into the country is sluggish, especially due to uncertain global economic conditions.
India was also the fifth largest source of funds (FDI outflow) in developing Asia, helped by a string of major acquisitions in countries across the globe between 2007-2011. Among major buyouts that figured in the U.N. report were Tata Steel's acquisition of U.K.-based Corus group worth $11.8 billion and Hindalco Industries's acquisition of U.S. firm Novelis Inc worth $5.8 billion. Tata Motors also acquired U.K.-based Jaguar Cars for $2.3 billion, Essar Steel Holdings bought Canada's Algoma Steel Inc for $1.6 billion and United Spirits acquired Whyte & Mackay of U.K. for $1.17 billion.
Nguồn: The Hindu,
http://www.thehindu.com/business/Economy/article2296145.ece
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